CDB statement on LIAT 2020

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Antigua PM eyes seamless shift as LIAT 1974 hands over to LIAT 2020
LIAT (1974) LIMITED AIRCRAFT SALE
Earlier this year, LIAT (1974) Limited ceased operating after entering administration in 2020. The company’s shareholders – the governments of Antigua and Barbuda, Barbados, Dominica, and St. Vincent and the Grenadines – agreed to the sale of LIAT’s three aircraft to the Government of Antigua and Barbuda.
An Aircraft Sale Agreement, for the sale of the three aircraft over which the Caribbean Development Bank (CDB) holds mortgages, has been executed between the Administrator for LIAT (1974) (as the seller) and the Government of Antigua and Barbuda (as the buyer). 
CDB is not a party to the sale agreement. CDB’s only role is to provide the necessary consent for the sale, which it has done.
Under the sale arrangement agreed to by the shareholder Governments, the Governments’ approved that money from the sale should be proportionately allocated towards paying outstanding balances on the CDB loans that were initially made to the shareholder Governments to support LIAT (1974) Limited’s operations. The decision about the use of the sale proceeds rests with the shareholder Governments.CDB is not involved in the financing or any aspect of the operations of LIAT 2020. 
The Bank continues to take a strong interest in the development of regional transportation and remains a strong advocate for the development of the Caribbean’s transportation networks and infrastructure.

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12 COMMENTS

  2. As the plot thickens some people would read this article 10 times and still will not understand browne boy deserves a corbeau award.

  3. @CDB is listening June 27, 2024 At 5:36 pm
    CDB’s only role is to provide the necessary consent for the sale, which it has done.
    And when was this done? After Gaston Browne called them out for delaying the process of the sale.
    And now that they have given their consent we can surely move on.

  4. When did the CDB provided the necessary consent for the sale? That’s what should have been stated but somehow I don’t think that’s the holdup the question of money about 12 million I believe with T20 world cup in the Caribbean about to climax on Saturday and I’ve heard of no transportation problems with getting around from island to island (Go figure ).

  5. Maybe you did not hear, but there has been. Some people.were in Antigua for days with bags in some other island. And some people just decided not to bother in the first place.

  6. If this is quality of statement coming from that institution, no wonder so many officials around the region complain about it.
    Notice you did not see a date when anything was done in the statement.

  7. @ Aloenso that’s not nice but were that not the norm with liat I experience that 3 times with liat going vincy for Carnival the longest time were 3 days without luggage and paying a cab to go check to see if it come and not being reimburse one red cent by liat.

  8. cdb is a sabotage institution runned by incompetent arrogant bajans.there was a conspiracy to remove the St Lucian Dr Leon,the former president of CDB by the same bajans.same ppl wanted to move liat head quarters to barbados,and will prefer liat to burn to the ground as long as they dont get their way.they bring same shit to WICB, always want to control every damn thing.to hell with them

  9. You get what you vote for.

    Keep on voting the creative self enrichment dictator Gaston Browne in. You will get ton more of this shit.

  10. @ observer just only if every time your asses were in trouble and Barbados had say to he’ll with you all you might not want to remember all the times Barbados came to Antigua and Barbuda rescue remember the Stanford incident and Antigua were in trouble Barbados were going to move liat base back to Bim as they had all right to do but Antigua government beg not to move it for it was all they have just take a look around and see what really happened to liat over 600 workers alone in Antigua it were just a matter of time before before liat would have gone under.

  11. what barbados do u boy? cdb board of directors made up of big boys Canada, UK, Italy etc. The chairman of the board is Italian. It is them who investigate your boy sint lucian leon. Curse them not bajans. Browne cant order around cdb. He say Liat would be flying all now. We waiting. Tell he curse Air Peace. CDB has Browne nuts in a vice to squeeze anytime

  12. observer what barbados do u boy? cdb board of directors made up of big boys Canada, UK, Italy etc. The chairman of the board is Italian. It is them who investigate your boy sint lucian leon. Curse them not bajans. Browne cant order around cdb. He say Liat would be flying all now. We waiting. Tell he curse Air Peace. CDB has Browne nuts in a vice to squeeze anytime

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