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Ashcroft’s PIL demands Port Audit Print E-mail
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Thursday, 01 December 2011 00:00

PortLast week, the Guardian newspaper reported that the Port of Belize was in danger of falling into receivership. At the time, we reported that on two occasions operatives of Michael Ashcroft and a company called Private Investment Limited tried to make its way into the Port to deliver a letter of receivership to the Ports of Belize Limited. Those efforts however, were resisted by the current administration of the Port. While at the time the Port management was able to stave off the two attempts, on Wednesday November 30th they were not able to.

In the company of police personnel, parties with interest in the Port managed to make their way to the administrative offices of the Port and deliver a letter. While verbatim we do not know what the letter states, we do know that it is not a letter of receivership, at least not yet. As we understand it, the letter was served on the Port’s management for an audit to be conducted on the institution. That same letter, as opposed to a receivership letter, was what the Ashcroft interests tried to serve on the Port last week to no avail.

Now that the letter has been served, there is a great level of uncertainty. When The Guardian visited the Port on Wednesday, the offices were shuttered and there was little or no activity within the offices. What we do know is that now an audit will be conducted and there is no telling exactly what that will come up with. The current administration of the port has been trying to hold off on the audit since it would be doing its own, but with past experiences that the Ashcroft interests have had on previous receiverships, they are choosing to sleep with their own eyes- so to speak. The receivership then would not be implemented until an audit is done complete with cash flows and  inventory. Thereafter, it will be known exactly what position the port finds itself in.

Meanwhile, there is information that suggests that the Port of Belize is but a shell of a company with the operations having been transferred to paper companies including one called Port Logistics, which has taken over most of the operations of the port.

It is now a wait-and-see game to determine how the Ashcroft interests will proceed and what the next move of the managers of the port will be.