Regional leaders give commitment to write off debt owed by LIAT

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A number of regional leaders have given their commitment to write of debts owed to them by LIAT — which is now in Administration — Prime Minister Gaston Browne revealed Saturday.

Administrator Cleveland Seaforth has been negotiating with creditors asking them for certain debt write offs.

“In fact, that matter was raised yesterday by me with some of the heads within the region and they have all committed to writing off their debt,” Prime Minister Browne said.

“So I believe sometime during the course of [this] week that we’ll be hearing from the various Heads within the region to write off the outstanding airport taxes and other fees that were due by LIAT.”

Prime Minister Browne said the Administrator is also speaking with other creditors, adding that the whole idea is to get to a significant write down in the liabilities so that there could be some level of severance paid to the staff.

“If the administrator is unable to achieve that then there will be a problem — even if there is severance paid, they will be nominal. But the deeper the write downs, then the larger the amount of severance that will be paid to the staff, so that is the exercise that the Administrator is undertaking to get completed as soon as possible,” Browne said.

Meanwhile, the Antigua and Barbuda leader said the Administrator continues to negotiate with a few prospective investors.

“I’m not aware that there’s any firm deal as yet but we still remain hopeful that within the 120-day period that we will have LIAT back in the air,” he said.

“That is still the objective, we have not changed the timeline and we are working towards it.

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5 COMMENTS

  1. Browne is beginning to sound like a broken record what about the 11 million collected from ticket holders during the lockdown even if by some miracle Liat were able to fly again you would have to be lumatic to think that these people would fly on the LIAT brand again without getting they money back stop pussyfooting and tell the ticket holders how or when they will be repaid.

  2. Gaston Browne did say LIAT would be back in the Air in 90 days.He did not say which 90 days period.There are 366 days in 2020.Which means there is one complete 90 days period left in this year.So Gaston Browne,when would LIAT be back in the AIR flying as LIAT 2020 LTD.To all of you tickets holders of LIAT and or any other Airlines.Always buy your tickets using a Credit Card for your protections.

    • Yeah that’s good news but right now that’s got nothing to do with ticket holders getting they money back I doubt weather any of those persons owed money will ever be flying with that Brand again to much options now .

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