~Did Vidanova, APS and SZV do due diligence before committing pension funds?~
PHILIPSBURG: — Member of Parliament Christopher Emmanuel said in an interview with SMN News that the Minister of VSA Emil lied to the people of St. Maarten in an effort to mislead everyone. Emmanuel said recently the Minister said in a press statement that the European Commission gave Condotte 190M Euros. Emmanuel said based on his research it’s is true the European Commission granted 190M Euros to Condotte as a grant. He said this was not done because the EU commission has confidence in Condotte but in fact, the commission is trying to safeguard over 1000 workers that stands to lose their jobs if Condotte goes belly up. “This is a grant given to Condotte for a period of six months, the question is what will happen after the six months if Condotte can’t get its financials in order.? Based on the way I see it Condotte is in bad shape, actually worse than what we know, and the Minister continues to play nonchalant thinking this is just a little slap on the wrist.”
Emmanuel said 190M Euros compared to the $100M that St. Maarten intends to spend on the construction of the New General Hospital is a drop in the bucket since the money given to Condotte is twice the amount for the New General Hospital. “I want the people of St. Maarten to know that Condotte is bankrupt and they filed for solvency in Italy and the government of Italy and EU commission is trying to keep them afloat until they could manage their financial situation and bring it back up to par.”
Emmanuel said that he is even more peeved since Vidanova and APS did due diligence before committing the monies that belong to pensioners. He said GEBE, TELEM, Cable TV and other workers on St. Maarten contributed to this fund and its not normal that Vidanova would make commitments without due diligence. “Don’t they know if Condotte and INSO goes down the drain then the pension money will also go down the drain? The same thing goes for APS since it’s the civil servants that are paying in their pension to APS. Emmanuel said he wants to know if those managing APS and Vidanova are not reading or conducting research prior to making investments.
As for the National Investment Bank (NIB) and Ennia the Member of Parliament said this raised more questions because he wants to know the role of Andy Wescot the representative of NIB. “I want to know more about NIB bank and its board members as well as Andy Wescot’s role.
Trip to Italy.
Emmanuel said the Minister also disclosed in his press statement that he and a team from St. Maarten will be traveling to Italy. “I would like to know why are you going to Italy, as far as I am concern those from Italy including representatives of the Italian Government are the ones that should come to St. Maarten to assure the Government and people of St. Maarten that they could continue with the project.”
Emmanuel said even Norway pulled back to major contracts from Condotte because they fear the company will not be able to meet their obligations to their creditors and workers.
The Minister is hell bent on misleading the people of St. Maarten and its time the Minister to start telling the whole truth. “I want the know in whose interest the Minister is going to Italy, this tells me the Minister has a deep rooted interest in INSO rather than telling the truth regarding INSO”s financial status.
Emmanuel said he is resting this situation on the shoulders of Member of Parliament Luc Mercelina since he has full knowledge on how hospitals are supposed to function. “The opposition will be calling on the Chair of Parliament to step down since meetings are not being called in a timely manner. Requests for meetings are being ignored while the chair of parliament is busy protecting certain Ministers. The Chair is abusing her powers by protecting Minister Emil Lee and other Ministers, Emmanuel said.
An instruction has to come from Parliament to the Minister instructing him to halt the process with INSO. It is the duty of Parliament to secure the people’s patrimony and in this case, it is clear that St. Maarten is jeopardizing the pension and other funds by contracting INSO for the New General Hospital. Emmanuel said that the majority in Parliament should take it upon themselves to send the instruction to Minister Emil Lee and also to the Governor of St. Maarten.
“I believe its time VAMED is invited back to the table and give them the contract since they are in better financial standing.
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Source: St. Martin News Network http://www.smn-news.com/st-maarten-st-martin-news/30875-exclusive-emmanuel-minister-of-vsa-lied-to-the-people-of-st-maarten-regarding-condotte.html
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