Prime Minister Gaston Browne has taken his fight against the Chairman of the Eastern Caribbean Amalgamated Bank (ECAB) a step further as he is now calling for his removal.
The Antigua and Barbuda Labour Party (ABLP) government has accused the ECAB’s Chairman Craig Walter, of frustrating the administration by preventing them from retaining ordinary shares in the bank.
Browne said on the radio over the weekend that Walter is the “fly in the ointment” stalling the request.
“I think that the time has come for him to go. He is also missing in action. He is not providing direct leadership to the bank and we are getting a lot of complaints about the quality of the service. Craig Walter is not ready for Primetime and they need to remove him as the Chairman and possibly remove him as the director,” Browne asserted.
Browne wrote a letter to Walter recently about the matter, which he says is taking too long to be addressed.
He said the board had committed to allowing the government to increase its shares even while they were trying to acquire Scotiabank Antigua.
Browne told Observer, had that commitment not been given, the government would have encouraged the Antigua Commercial Bank (ACB) to buy out the Canadian bank instead.
ECAB is currently one of the largest indigenous banks on the twin island, and the government has 25 percent preferential ownership, which gives it the first claim on the distribution of profits but restricts it to voting only on resolutions that directly affect its rights.
It was a few years ago that the administration wrote to the board of directors asking to convert those shares to ordinary shares, which would allow the government to claim full voting rights in the decision-making process.
Together with ACB which owns 15 percent of ECAB, Antiguan and Barbudan shareholders will then account for 40 percent of shares and voting power in the institution thereby increasing domestic ownership.
There are plans to list ECAB on the Eastern Caribbean Stock Exchange, thereby exposing it to a wider selection of investors and financing.
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POLITICAL VICTIMIZATION because Gaston BROWNE can’t get his own way he wants to victimize the young man.
Gaston you are so wicked.
You don’t see what happen with Brian Stuart Young. A man is suing him in his personal capacity.
YOU GASTON, you work for SWISS AMERICAN and SWISS AMERICAN failed and off-shore bank that you are affiliated with, the man that want back his money is suing.
YOU GASTON you have a bad track record when it comes to banks.
Mr Walters is right and is standing up for the clients of the bank
JUSTICE FOR NIGEL CHRISTIAN
Yes I!
God nar sleep!
What is the relationship between APOSTLE SHUGY SIMON and the NAZARENE CHURCH?
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JUSTICE FOR NIGEL CHRISTIAN
You are such a deranged person. You ,too, need to start doubling up on your medication.
He without sin let him throw the first stone . Just like u know bowen shot tessa you should know who took her there with ABS TV camera to humiliate Bowen because he wanted to run independent. So all will pay for their sins dont judge others. Everyone have sinned. Those who took her are just as guilty as the one who fired the gun
APOSTLE SHUGY SIMON and CHESTER HUGHES get along well or no?
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No one can take you seriously with these ridiculous comments. String a sentence together like a normal person, jeez 🙄
Wonder if Gaston Browne knows that people outside of Antigua are listening to him run down the bank chairman just because he can’t get his way with him?
Does he know his loose lips are damaging our reputation out there?
Look at two examples of this. Antigua did not make the list of 10 countries in the region that have a high level of education.
Antigua did not make the list of countries in the region that meet the threshold of a suitable retirement home or a place to move to based on the state of the economy.
Islands like St Kitts and Nevis, Dominica, St Lucia and Grenada made those lists.
And we are an economic powerhouse and better than all of them. Right?
Craig Walter, sue Gaston for defamation. He called you incompetent and unfit. That is defamatory of you.
You’re a real clown. Calling someone incompetent and unfit is not defamatory.
defamatory
adjective
damaging the good reputation of someone; slanderous or libelous.
Gaston to be removed as head of Antigua
The Head of State is the Queen, represented by the Governor general. Sir Rodney Wiliams.
If the text in the video is true then Ecab shouldn’t convert these shares but redeem them ASAP and return the $47 million to the government and rid themselves of the burden. Issues shares directly to the public if needed to pay for the redemption. They will be oversubscribed.
The government should use the $47 million returned to pay local suppliers, stock the hospital and provide running water.
@@Troll :THE OPERATIVE phrase ; ” if the video is true” Gaston is a notorious liar.
Why do you even assume that he is talking the truth.
Another phrase that is interesting: “The government should use…”
The government had 2 billion dollars at its disposal and cannot account for it.
Something to consider:
Why is a depositor suing the bank that Gaston has ties to.
He is even suing the Bank Manager in his personal capacity.
Give further consideration to this fact:
Gaston worked at Swiss American Bank : Why did the bank go bankrupt?
Gaston obviously does NOT have a grasp of the banking sector.
CRAIG: STAND FIRM! YOU ARE LOOKING OUT FOR THE INTERESTS OF THE DEPOSITORS!
DO NOT BEND TO THIS BULLY!
Gaston is the devil. Let’s vote him out decisively. Get registered to vote ASAP!
It is also time for GB to be removed.
Craig Walter, don’t let crazy Gaston intimidate you. He cannot force you and the bank to do anything and that’s why he wants common shares to control you. He likes to be in control of money so he, his family and the government can borrow. He wants to control the bank so he can put in his own management team that will do his will. He took out Medical Benefits money.
He controls CUB through the government’s shareholdings, he has a lot of influence at Global Bank and now he wants to control ECAB. Don’t even take Gaston’s phone calls. Elections coming soon. Hope Antiguans wise up and vote him out.
Comrade Gaston, I implore you to let me know what to say here. Don’t let these naysayers here get the upper hand. I will always kiss that sweet Browne ass of your and my wife is always ready for you at your command.
I remain your faithful slave Comrade Gaston. You are the only leader for Antigua.
@From the Sideline. May I suggest that If you were to take your implanted head out of that crevice for an hour or so and actually think country instead of a person and self for once you might actually realize that to idolize one person is a detriment to your life (our lives) and your (our) future.
Simple research will show that two of the traits a narcissist has are to destroy/self-destruct and constantly lie. Life is all about them and look at me. IMO there has been enough destruction and govt. meddling in the banking systems in Antigua. Mr. Walter and the board should make sure that no more shares in ECAB bank go to the ABLP which, to the simple mind would give Gaston Browne the ability to create possible mayhem for the bank and its customers.
p.s. Narcissists dump comrades when they are no longer of any use.
U r a e di ate Gaston clown 🤡🤡 a u gad a he wake u up in the morning a he gid u breath of life red cool lade
@ From the Sideline
STOP IDOLIZING GASTON AND PLACING HIM AT A PLACE THAT EXCLUSIVELY BELONGS TO JESUS (REFERRING TO THE LAST LINE)
YOU HAD BETTER NOT LET YOUR FAMILY READ THE FIRST THREE LINES THEY MAY QUESTION YOUR MANHOOD
Craig is like Gaston don’t see your head literally bigger than his dodo bird 🦤 brain head so show him what big heads can do!!😉
The only Walter that would not let politics determine whether or not to work with the ALP government was Vaughn Water. All the other Waters have an Axe to grind with the Labour Party for the imprisonment of their late Father. Therefore the PM should know the history and understand that he will not get any corporation from Craig whatsoever on this matter. Country doesn’t come first in this regards. Family does. And revenge is sweet.
@ sideline
Why should the bank work with the government to control them? Gaston is a dictator who thinks he can bully everybody to have his way. And by the way, the word is cooperation and not corporation. You and Gaston seem to have a problem with using the correct word.
Thanks for correcting my grammar from time to time the grammar checker doesn’t work well.
But I see you are saying “why should the bank work with the government to control them”. This leaves me to believe that you think the Chairman is the bank and owns the bank. I guess you do not understand that it’s shareholders that own the bank and it is not Gaston that Owns the shares in the bank, but the people of Antigua and Barbuda. And Gaston is fighting on behalf of the people of this country to get their rightful share of the bank. As it stands now the majority of the share are owned by Bank of St. Lucia and Bank of St. Vincent. But I guess you guys so hate Gaston that you would prefer that to remain like that. Working against your own interest. Just like Craig Walter. Put Party before Country. Kublai made a calypso about that.
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