Viewers will remember last week when the Belizean businessman, Abram Froese, came out swinging against Recological Systems Ltd, or RSL, the company which has a 25-year lease to operate the Commerce Bight Port. At this time, RSL is in the process of rebuilding the non-functional facility, so that it can resume commercial operations.
Froese and his team came forward to the public last Thursday to say that he paid 2 million dollars for shares in RSL and that he was jilted out of ever getting access to all those shares that he allegedly paid for.
Well, Paul Martin, the Managing Director of Recological Systems Limited, has sent out a lengthy press release to basically rebut everything that the Froese brothers and their team asserted last Thursday.
First, Martin discloses a written declaration which Alan Gobie, the former director of the company, made on November 27th, 2020. In it, Gobie declared that he made an error when he "purported to transfer 20 thousand shares" of RSL to Froese's company, Belcaribe Enterprise Limited. The document has features that suggest that it is a sworn statement to the Belize Companies and Corporate Affairs Registry, and it has the official stamp of a notary public.
In this written document, Gobie says, quote, "I, on the 18th October 2019, erroneously purported to transfer 20 thousand shares in the said company to Belcaribe Enterprise Limited in contravention of the Articles of Association of Recological Systems Limited and have been told, and verily believe it to be true that the purported transfer was null and void..." End quote.
He authorized and instructed the Companies and Corporate Affaires Registry to void the shares that he erroneously purported to sell to Froese's company. In that declaration, he also noted that he sold the said shares to Paul Martin for the price of $20,000.
But, while this signed document says that Gobie reversed the sale of shares to Abram Froese, Froese is insisting that a check at the Companies and Corporate Affaires Registry will reveal that he is recognized as a shareholder of RSL. His camp is suggesting that the reversal never actually went through. They say, that this October 2019 document, which details the share sale agreement between Froese's company and Gobie, when he was a former director of RSL, still stands.
And that takes us to yesterday's press release from Martin, who is the current managing director. In that release, he says, quote, "Abram Froese is NOT a minority shareholder in RSL: the transfer of shares and appointment as a director was done illegally and in violation of the company's articles of association... RSL has never received 2 million dollars from Abram Froese. RSL conducted an audit of the finances of the company and nowhere is there any suggestion of any such investment by Abram Froese or his company BelCaribe Enterprise. The only expenses we can ascertain from Froese and his affiliated companies is $9,219.50 in respect of a company called Vista Sierra Development Ltd... Abram Froese has not sent any formal communication to RSL in respect of this two million dollar claim and RSL believes their press conference was only an attempt to smear the name of the company to make a case for GOB's upcoming cabinet meeting to cancel the lease for the port..." End quote.
So, there are a few unanswered questions at this time. Did Abram Froese pay the 2 million dollars for the shares? And if he did, who collected the money, and where are those funds now?
Paul Martin also makes some strong accusations against Indira Mejia. You'll remember her as the chief spokesperson for the Froese brothers during their press conference last week. Martin accused her of professional impropriety, and when we contacted her for comment this morning, she said that she is ready to sue anyone who publishes the details of those allegations. She asserts that they are false and libelous and that RSL's must disclose written proof of what they're alleging.
And finally, on the supposed connection between RSL and former government Minister Frank "Papa" Mena and former CEO Peter Allen, Martin says, quote, "RSL's direct involvement with any Government official is only in their official capacity as Area Representative or Minister of a department that RSL's development at the Commerce Bight Port is related to. Until the company has been provided proof of any wrongdoing, we will not speak any further on these baseless allegations as it becomes clear the move behind these allegations is only to damage the reputation of the company and ultimately delay the development at the port." End quote.
