Banner
Public Sector Workers Trust ignores Supreme Court orders Print E-mail
( 0 Votes )
Written by Administrator   
Thursday, 10 August 2017 00:00

The Guardian Newspaper has confirmed that the Public Sector Workers Trust which was deemed back in March of this year as being invalid and unenforceable is continuing to operate. Its functioning is flying in the face of  a Supreme Court order which stated as follows: “This Court therefore declares that the Deed of Trust dated the 29th August, 2013 between the PSU and the BNTU purportedly as “settlors” of the first part and Raymond Davis (PSU), Nadia Caliz (BNTU), Phillip Castillo (NAB) and Enrique Iglesias (BPA & BDF), purportedly as “Trustees” of the second part of the Public Sector Workers’ Trust (“the Trust”), is invalid and unenforceable in that:

(a) The Trust is inconsistent and in breach of the declaration of trust by GOB in 1996 which was memorialized in a Ministry of Finance Circular No. 9 of 1996... dated 21st October, 1996), in that the Deed of Trust expressly states that the Trustees may deem as Beneficiaries persons other than those public officers affected by the increment freeze effective from the 1st April, 1995 to the 31st March 1997;

(b) The Unions and the Trustees were totally mistaken as to the Deed of Trust’s true content and effect in that it names the Unions as the “settlors” thereof when, at all material times the property of the Trust were not beneficially owned by the Unions and were in fact transferred by the GOB to them in trust for those public officers affected by the increment freeze and the purported settlors named in the Deed of Trust could not therefore be settlors of the said trust;”

The court continued by ordering that the Unions or the present Trustees in consultation with the beneficiaries and the Government of Belize draw up a  proper trust to include the GOB as the settlor. Under that deed public officers who had their salaries frozen are to be the beneficiaries. It continued ordering that there be account for all the funds that they have received from GOB from the BTL shares from 1996 to 2013 and that has been paid to them since 2104. It also ordered that monies that have been invested be recovered.

Now the judgment is very straight forward but it seems like the holders of the trust are insistent on not following the order of the court. Part of the operations of the Trust included the issuing of loans and it seems that the order by the Supreme Court is playing no bearing as they have indicated that they will “resume its loan scheme shortly.”

This is in direct contravention of the order which has specifically stated that the entire trust was deemed invalid and unenforceable and more so that they must account for the trust’s money as well as set up a trust for the benefit of only those public officers which were affected by the salary freeze of  1995-1997.