Grenada's Louison Consulting Firm defeats PWC

Garvey Louison of Louison Consulting

St. George's Grenada, May 9th, 2013: According to information reaching Rush Tv in what must be a landmark decision, a tiny Grenadian accounting firm, Louison Consulting, has defeated the multi-national PricewaterhouseCoopers (PWC) in a matter at the Organization of Eastern Caribbean States (OECS) High Court.

Rush Tv has in its possession a judgment handed down by Hon. Justice Margaret Mohammed on Friday 3 May 2013 at the OECS High Court. The Judge held that PWC was not entitled to be treated as a preferential creditor for expenses incurred while defending lawsuits brought against them in negligence during their controllership of an offshore bank in Grenada.

It would appear that PWC were appointed the Controller of Bank Crozier Ltd (BCL) by the Minister of Finance in August 2002. After several extensions of this appointment it was superseded by the appointment of Garvey Louison Chartered Certified Accountant of Louison Consulting as the liquidator of BCL by order of the court Madame Justice Pemberton on 24 July 2003. http://www.bankcroziergd.com/Liquidationorder.pdf

By way of suit no. 2003/255 PwC claimed that the Liquidator must indemnify them against all acts committed while acting as Controller of BCL. Further that such claim must rank in priority over all other claims in the liquidation.

This argument was defeated at the High Court by way of ruling issued by Pemberton J in November 2003. http://www.bankcroziergd.com/civilsuitdarylsands.pdf

PWC appealed this decision. After several years of legal submissions and administrative delays the Court of Appeal in civil suit no.1 of 2007 ruled against PwC on 20 November 2007. http://www.bankcroziergd.com/Judgements/Judgement_from_high_court_appeal_no1_of_2007.pdf   

In an effort to circumvent the ruling of the court PWC would institute proceedings against Garvey Louison this time by way of a claim filed with the then Minister of Finance Nazim Burke for a sum in excess of US $12.3 Million in November 2008 and then assigned the same claim to PwC under the hand of the Minister.

Louison argued that by any figment of the imagination this was the same claim already defeated in the court of Appeal and therefore was destined to fail and that the only purpose of the flawed assignment was to negate the earlier ruling of the court.

In January of 2012 PWC applied to the court for the committal of the Liquidator on the ground of his failure to honor its claim. The committal order was sought even though PWC were well aware that the Liquidator does not act in a personal capacity but is indeed a mere servant and officer of the court.

Not only does the Liquidator report to the court frequently and regularly but is bound to apply to the court from time to time for directions in the conduct of his affairs and in accordance with the terms of his appointment.

At the High Court on 3 May 2013 Madame Justice Margaret Mohammed dismissed all PWC arguments with costs awarded to Louison Consulting. 

Louison Consulting website http://www.louisonconsulting.com 

Source:

Rush-TV Grenada

http://www.rushtv.gd 

Grenada Government & Bankers continue to strengthen partnership

Prime Minister of Grenada
Dr. the Rt Hon. Keith Mitchell

ST. GEORGE’S, GRENADA Tuesday, May 07, 2013: On April 25th, 2013, the Ministry of Finance and Energy, led by Prime Minister and Minister of Finance and Energy, Dr. the Rt. Hon. Keith Mitchell, met with the Grenada Bankers’ Association, led by its President, Mrs. Champa Rampersad- Barnes. The meeting was held at the Republic House in Grand Anse and was the second of such meetings since the coming into office of the new Government.

 The issues discussed at the meeting included:

-  The 2013 Budget;

- Initiatives to stimulate the economy, in particular, the  commercialization of the Government estates and the incentives provided to the construction sector; and

-  The Foreign Account Tax Compliance Act

Prime Mitchell told the bankers that in the New Economy, “Grenada’s economic revival and job creation must be private sector driven with Government providing the enabling environment. The 2013 Budget is aimed to do precisely this especially with stimulation of the construction sector.”

Speaking on behalf of the Bankers’ Association, Mrs. Barnes said: "The Bankers’ Association takes this opportunity to recognize the many initiatives included in the budget to support growth in key business segments. We will continue to lend support as we work together towards positive growth and job creation.  "

The next meeting of Government and the Bankers’ Association will be later this month.

--

Petra Charles - Joseph
Corporate Communications Officer
Ministry of Finance &  Energy 

Ministry of Economic Development, Planning,

Trade & Cooperatives
The Carenage, St. George's
Grenada
Tel: (473) 435-0057; 440-2731/4 ext 1108

Cel: (473) 417- 1068
Fax: (473) 440-4115
Email:financegrenada@gmail.com

'Made in Grenada' 6th Annual Celebrity Football Match

St. George's, Grenada: After what amounts to almost an entire season of competitive and entertaining football, the Made In Grenada Courts Celebrity football team prepares for its annual charity game.

The Teams

Over the past 12 months or the so the Team engaged teams of varying skill level, including trips to Carriacou and Her Majesty’s Prisons, culminating with a record of 7 wins, 2 draws and 2 defeats. The final and most recent game for the Celebrity Team was a surprisingly competitive match against GFA Premier League Champs Hard Rock in River Sallee St. Patrick. 

The GFA team prevailed 3-1, but the close margin seems to suggest that the Celebrity Team is poised to take on all challengers in the future.

The 2013 version of the Made In Grenada Celebrity Football Match will take place at the Tanteen Playing Field on Friday May 31^st, at 4:30pm. The Made In Grenada Courts Celebrity 

Team will come up against a very interesting team of other public figures. 

In the past 5 years the annual game has realized in excess of $30,000 for a range of organizations that undertake the difficult task of providing for citizens among us who suffer from ailments and other unfortunate setbacks.

Dexter Mitchell

 

Made In Grenada

   'since 1974'

 

1473-403-1455 (mobile)

1473-435-4156 

 

facebook @madeingrenada

twitter@madeingrenada

P.O Box 1818

Grand Anse,

St. George

Grenada, W.I

Sandals retains Five-Star

Sandals Resorts International, which is currently expanding the former La source hotel here has swept the five diamond star accolades. The American Academy of Hospitality Sciences bestowed 23 of its top five and six star rating to various Sandals resorts, villas, restaurants and Island Routes Tours in the Caribbean. 

AAHS President Joseph Cinque presented the highest accolade to Butch Stewart, Chairman of Sandals and Beaches International, and Adam Stewart CEO, of Island Routes Caribbean, who together, along with an incredible team, are leading the way for luxury hospitality in the Caribbean and around the world! The event took place at Trump Tower in New York City. Over the years Sandals Resorts have perfected the all-inclusive concept, placing it among the best in the industry.

Furthermore Island Routes Tours has become the only tour company to ever receive a Six Star Diamond award from the American Academy of Hospitality Sciences. Island Routes Caribbean Adventures are showcasing culture, beuaty natural resources, sight and sounds that define the Caribbean making them the World’s Leading Caribbean Adventure Company. The Luxury Included® brand is due to open its first resort in Grenada in December of this year.

Source:

Dominic Fedee

Regional Public Relations  Manager - Sandals Resorts International

Eastern Caribbean -Tel: 758 456 8600-Fax: 758 456 8700-

email: dfedee@grp.sandals.com  

Grenada Reaping Benefits Of New Fingerprinting System

St. George's, Grenada, GIS: Grenada has begun to reap the benefits of the newly installed Automated Fingerprinting Identification System (AFIS).

This state of the art instrument was provided by the Government of the United States of America under the Caribbean Basin Security Initiative. A special handing over ceremony was held at the Police Headquarters in St. George’s to mark the occasion. 

Acting Commissioner of Police, Winston James said, the AFIS has yielded much success in solving cold cases in Grenada.

In commending the US government,the Commissioner said, since receiving the equipment Grenada was able to clear up 79 cold cases, and without it those cases would be unsolved.

US Ambassador to Barbados and the Eastern Caribbean H.E. Dr Larry Palmer said, the system will beef up border security not just for Grenada, but also for neighbouring islands. He said it’s an important system which will help increase security across the Region. Over the last two years the US has worked hand in hand with all of their Caribbean partners to come to this day. He said, recently they handed over a similar system to the Federation of St Kitts and Nevis which commended the dedication of this system to the Caribbean.

Dr. Palmer says, it will also increase vigilance in the force and bring Grenada on par with the rest of the Region. “Grenada’s Law Enforcement will now be better equipped to search their data bases quickly and effectively for finger print analysis. The system will also enhance the whole finger printing process.” Palmer said.

To ensure compatibility of the system and the standardisation of information across the Region, we’ve worked close together with law enforcement to put together a state of the art system.

Guyana, Suriname, St Vincent and the Grenadines and Dominica are next in line. Within a few months their systems will be installed.

 

Government Information Service

Grenada

April 2013