47-year-old Phillip Galaty, the managing director of wholesale giant Victor L. Bryant is in the intensive care unit at the Universal Health Services hospital tonight recovering from gunshot wounds he received in an attempt on his life this morning.

Galaty along with his assistant Gilliam Smith was on the northern highway heading to the Corozal free zone on business when they were ambushed at a speed bump just outside Ladyville. The 7NEWS Team was first on the scene and has eyewitness accounts.

Keith Swift Reporting,
This morning crime scene investigators surveyed the shattered glass and blood left in the middle of the Northern Highway after what police believe was an attempted hit on insurance magnate Phillip Galaty. It was a determined attack as eyewitnesses say that two gunmen fired as many as ten shots from two pistols. It happened at 8:30 this morning; just yards from Our Lady of The Way Primary School in Ladyville and just moments after the bell rang. Infant one teacher Sharett Gillet heard the shots.

Sharett Gillet, Heard the Gunshots,
"It was about 8:30 because we were still in lines and we heard couple shots. First we thought it was like 'pop shots' because some of the child said teacher we are hearing pop shots. So it was like 6 to 10 shots approximately we heard."

Keith Swift,
"You heard 6 to 10 shots, what did you do next?"

Sharett Gillet,
"Well what we did was try to get the children inside because we didn't know what was it."

Keith Swift,
"So you said you heard bam bam bam?"

Sharett Gillet,
"Yes about 6 to 10. It was so fast we couldn't count it."

7NEWS was able to talk to two eyewitnesses to the shooting, who both wished to appear off-camera, but they did tell us that Philip Galathy's assailants lay waited him on both sides of the highway and when he reached the speed bump is when they made their move.

Eyewitness #1,
"This morning I watched two men standing by the roadside and a white car was in front of a pickup at the bump and the white car moved off and then when the other vehicle reached the bump - I saw two young men just went up the vehicle and I heard bang! Bang! Bang! And I said 'Lord they killed the man.' I was peeping and then I saw the two guys who did it: one had on a red and black shirt and another had on a white undershirt with a black pants. Both had something on their face. The one in the red shirt fired three shots. The other one in the white undershirt was trigger happy and he was just bang!, bang!, bang!. Then he took a black bag out of the car and then they ran through a back street and they went."

Keith Swift,
"So you are saying they were standing on either side of the road waiting for the vehicle?"

Eyewitness #1,
"The way I watched it is like they were waiting for the person in the vehicle. Like they were just waiting for that person to come up so they could do their thing."

The other eyewitness, also appearing off-camera, told us he actually saw the assailants jump into a getaway vehicle parked nearby.

Eyewitness #2,
"I saw the car fly past through my road mouth over there. The person raised up the glass so I could have only seen his face and he was red skinned. And he was in a green taxi."

Keith Swift,
"So you heard the gunshots?"

Eyewitness #2,
"Yes I heard like 5 shots but I thought someone was stoning on top of the zinc. But at the same time a young boy ran into my room and told me someone got shot so I just ran out. By the time I got out, I saw the person in the car rolling up the glass and the person was driving so I only saw his face - a red skinned in a green taxi. A two door taxi."

Galaty's assailants sped off leaving him for dead and they had good reason to think that the hit had been successful, judging by his blood stained late model GMC Yukon: blood covered his leather seats and a pool is left in the console between the two front seats. But after all that blood loss, Galaty was still alive and Principal Vincent Parks was one of those who went to his rescue.

Vincent Parks, Principal
"I did see the man who got shot and he looked very healthy in the face but he was bleeding badly. So Sonny Fraser, one of the bus drivers and I were asking for help to take the man down to the hospital but other vehicles were passing and they weren't giving any help. One Mr. Fiany, who works for Food for the Poor, came up and we loaded the man in the pickup and asked him to take him to the army camp hospital."

Galaty is in the hands of doctors and the investigation is in the hands of police who are looking at his assistant Gillian Smith. Seen here in a bloodstained shirt at the Ladyville Police Station, he is of interest to police because he was in the Yukon with Galaty at the time of the shooting but he escaped unhurt. Inspector Albert Kelly who is heading up the investigation says he is not a suspect and they are only questioning him.

Inspector Albert Kelly, Ladyville Police
"At this time we cannot say exactly what the motive was. It could be robbery."

Keith Swift,
"Help me clear up some things - we understand that Mr. Galaty was in the vehicle with another man who is at the station now. Is that man detained or even a suspect?"

Inspector Albert Kelly,
"Not at this time. He was traveling along with a second person and this person is presently at the station and we are getting a statement from him."

Keith Swift,
"Is it true that this person was not injured even though he was in the seat next to Mr. Galaty through 10 shots?"

Inspector Albert Kelly,
"Yeah he was not injured but they narrowly missed him. He could have been injured fatally if the bullet had caught him."

And apart from the answers that he may provide the central question remains: who would orchestrate such a daring attempt on the life of a leading figure in the city's business community and why.

Galaty is described to be in a serious but stable condition at the Universal Health Hospital recovering from the injuries to left stomach and left shoulder. The only thing stolen during this morning's shooting were two bags containing what are described as business documents.

We stress that Galaty's assistant Gillian Smith was not detained and is not a suspect; rather, as an eyewitness, he only assisted investigators with a statement.

Despite immediate roadblocks, which were put up, no one has been detained.

Tags Phillip Galaty Gilliam Smith Ladyville Universal Health Services Albert Kelly