The Stanford Development Company (SDC) has joined the list of Stanford-owned companies disconnected by the state-owned Antigua Public Utilities Authority (APUA).
Late Friday evening, APUA disconnected the Powell’s Estate office for non-payment of bills.
This followed Tuesday’s disconnection of electricity, telephone, water, and internet at the Sticky Wicket, Antigua Athletic Club, Stanford Cricket Grounds, The Pavilion, Stanford Trust Company, and the parking lot.
It is reported that the companies owe a combined total of somewhere between $6 and 7 million.
Caribarena has learned that disconnection is being carried out in phases, but has not confirmed whether Sun Printing and Publishing Ltd (SIBL) and the Stanford International Bank Ltd will be affected.
Over 100 employees were sent home last week without further notice, and it is uncertain how many more will join them.
According to usually reliable sources, the companies have been in default since November 2008.
One APUA official said notices had been published in the newspaper informing several companies about their past due status.
Caribarena was reliably informed that APUA and a faction of the Stanford-owned companies had met on Thursday to discuss possible negotiations.
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Comments (9)
written by empress, February 09, 2010
am so sorry that this had to happen but who ever was incharged was to monitor the electricity and usage used but no one cared since stanford himself is in jail, and the other concubines...sorry but my country is going on the downhill.
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written by Pellucid, February 09, 2010
Sorry balls, I had to go to the bathroom yesterday, so my "Antigua and Barb*da Constitution" isn't readable anymore. Not like reading it made it important in any way before that.
So what you're saying is that there is no real control over these companies and whatever children happened to be in the playground when the adults went away have now thieved and destroyed any value to the owners?
I'm sure this will come as quite a revelation to anyone considering an investment in Half Moon Bay, or any other Antiguan enterprise or investment.
Good luck with the IMF!!!
So what you're saying is that there is no real control over these companies and whatever children happened to be in the playground when the adults went away have now thieved and destroyed any value to the owners?
I'm sure this will come as quite a revelation to anyone considering an investment in Half Moon Bay, or any other Antiguan enterprise or investment.
Good luck with the IMF!!!
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written by wake up, February 08, 2010
it was quite impressive how this little remaining crew at the stanford companies managed to keep sticky wicket, the gym and the sun open and even maintain the airport gardens, cut off from the usual supply of money. this was to the benefit of the many employees still working there and the country as a whole since the airport area with the nice landscape and restaurants are a good part of the tourism product - don't get why APUA did this drastic step. once shut down it will be impossible for these businesses to reopen - lots of jobs lost and now one can see the airport go downhill in record time.
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written by Balls, February 08, 2010
Pellucid Gov cant acquire companies. Go and read your Antigua and Barb*da Constitution
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written by chuptz again, February 08, 2010
What is more important to me, is the names of the individuals at APUA who allowed this to run up for two years and six million dollars and why?
Running around and disconnecting is only a smoke screen devised to take attention away from the corruption which lies at the heart of the decision makers at APUA, and the imbalance in the way the national service from that entity is being distributed. I want to know who are responsible, and what measure will be taken against them.
Running around and disconnecting is only a smoke screen devised to take attention away from the corruption which lies at the heart of the decision makers at APUA, and the imbalance in the way the national service from that entity is being distributed. I want to know who are responsible, and what measure will be taken against them.
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written by Southern Beauty, February 08, 2010
Reading is FUNDAMENTAL! I believe Stanford filed an injunction to stop the government form acquiring the LANDS - not the businesses. The case is before the courts. For the life of me I can't figure out why it keeps getting postponed.
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written by Coopin, February 08, 2010
How Nice,So all these nice expensive grounds & buildings are going to be closed ,And in total darkness once the sun goes down . Very Nice for tourists when they come and go from the air port.......WELCOME TO ANTIGUA !!!
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written by MLM, February 08, 2010
Pellucid, Why don't you get your facts straight? What did the government compulsorily acquire?![]()
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written by Pellucid, February 08, 2010
Didn't the Government thieve, er, I mean compulsorily acquired these entities almost a year ago? And isn't the APUA a government utility?
Can't the Antiguan Government pay it's bills to itself, or at least keep itself from turning off it's own power??
Truly "thru the looking gla*s" stuff. unless the idea was to bankrupt the entities, then tell the investor's they're worth nothing, so the Government doesn't have to pay for them???
Can't the Antiguan Government pay it's bills to itself, or at least keep itself from turning off it's own power??
Truly "thru the looking gla*s" stuff. unless the idea was to bankrupt the entities, then tell the investor's they're worth nothing, so the Government doesn't have to pay for them???
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