What's up with the Universal takeover? Best we can tell you is that the plan is stalled, as negotiations between government and the Belize Bank broke down over how many thousand acres of land on Northern Ambergris Caye would be swapped for the $33 million Universal debt. But according to Senator Godwin Hulse, no land at all needs to be swapped. He told the Senate that government never gave the guarantee, the DFC did.
Hulse made his remark as the 2005 annual report of the DFC was passed before the Senate. In it, notes to the financial statements declare that the DFC is the guarantors for two private loans: Universal Health Services and Beli-Tour Bus Line, a Novelo's company. So, by Hulse's reckoning, the Belize Bank needs to follow it up with the DFC.
Senator Godwin Hulse,
"Recently the much discussed UHS situation which involves a guarantee that all along I thought, it was my understanding that the government of Belize had entered into a guarantee. Indeed I think the issue was raised in the National Assembly, in the House of Representatives with respect to certain settlements that are being arranged or contemplated to be arranged with the Belize Bank. But on reading this, I noted that in fact it is the DFC who has issued the guarantee and so I raised the question whether in fact the DFC is not in law a separate legal entity with its own responsibilities and its own limitations on liabilities and whether in fact the process should not be one of the Belize Bank moving towards and/or against the guarantee of the DFC rather than government stepping in. I know of no provision that allows government to automatically step in without bringing this case to the National Assembly."
Speaking with Hulse today about the sale of the Libertad Factory which the Senate also passed after he objected to the US$1.5 million sale price when an offer for three times that had been tendered, he says he only dropped his objection when Deputy Fin Sec Joe Waight convinced him that the process was followed. Hulse says he still feels government should have seriously entertained the offer for more money, but the decision is not his.
And, in other Senate business, to clarify the position of Trade Minister Eamon Courtenay who seemed to have said that the fault for $250 million in budgetary over-runs rests with public officers, here's the full context of his remarks.
Senator Eamon Courtenay,
"99.9%, if not 100% of them have done absolutely nothing wrong. Absolutely nothing wrong but because we are frustrated that we didn't debate the budget, we seem to be lashing out and taking attacks on people who have done nothing and who cannot defend themselves. Pay tribute and I thank the public officers who toil hours on end to bring these appropriate days, supplementary appropriation figures before this Honorable Senate and the Honorable House. They should be thanked, not criticized. They should be thanked, not scandalized. It is unfair, it is wrong, and it is improper."
Courtenay was directing his comments to UDP Senator Diego Bol.
