5 months ago
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Derek Chin - MOVIETOWNE chief executive officer (CEO) Derek Chin spoke out in support of the Prime Minister’s statements against institutions functioning only in the interests of the “one per cent,” saying that she uncovered a conspiracy to sell off prime property to the nation’s elite.
“The whole episode with the attack on MovieTowne by the Port Authority last year was a disguised attempt to grab land and take our property as part of the action,” Chin said.
“It was not the money issue as they tried to sell to the public, but a planned, concerted effort to steal MovieTowne and the lands. It shows you the nastiness of the last government.”
In August last year the Port Authority of TT (PATT) took possession of MovieTowne after what it said was years of breaches of the deed of lease of the property.
The MovieTowne multiplex, entertainment and commercial centre at Invaders Bay, Port of Spain sits on land leased by the Port Authority.
The Trinbago Commercial Development Co Ltd (TCDC) owners of MovieTowne described the action as “high-handed, illegal and bullying,” adding that it had offered to settle all outstanding rental sums not in dispute and pay the sums by cheque.
TCDC said the cheque was returned notwithstanding current discussions to settle all matters including disputed amounts.
At a virtual hearing on August 26 before Justice Elanor Donaldson-Honeywell, TCDC agreed to pay into the court $3 million on or before August 28, while the Port Authority allowed the company to continue its operations.
Prime Minister Kamla Persad-Bissessar ,while speaking at the UNC Monday Night Forum at the Camden Hall in Couva, singled out Republic Bank, First Citizens Bank and Eximbank, accusing them of engaging in deals that only benefited a small group of elites at the expense of citizens.
“Imagine a one percenter walks into (Works Minister) Jearlean (John)’s office, puts a paper on her desk and tells her he wants land at Invaders Bay,” she said.
She told Camden Hall the person in question told John that he was getting a loan from Republic Bank to buy the land, after which he would construct a building on it and rent the same building to the bank.
She claimed she had learned of similar arrangements taking place at First Citizens.
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