Did Sedi Advise PHL Directors About the Need for AGMs?

To make his point, Elrington uses the example of B.T.L. and Holy Redeemer Credit Union, both organizations that are legally required to hold annual general meetings during which auditors are appointed.  Furthermore, he admits to being laid-back when it came to advising the father and son directors that AGMs should have been held yearly as stipulated within the Companies Act.

Wilfred ‘Sedi’ Elrington, Progresso Heights

“Every year B.T.L. holds one, every year Miss Jane holds one.  How is it that a seasoned twenty-four, twenty-five-year-old American doesn’t know, who claimed that he is a real estate developer.”

Reporter

“You should have advised him…”

Wilfred ‘Sedi’ Elrington

Wilfred ‘Sedi’ Elrington

“You come to me and you ask for advice I will give you.  If you don’t ask me for advice I cannot give you.

Reporter

“But you’re a shareholder too.”

Wilfred ‘Sedi’ Elrington

“Concede, but if you don’t ask me for advice in the management, I can’t.  I’m a shareholder of B.T.L. you know, through my children, but I can’t tell dehn weh fi do. Never gone there.”

Reporter

“So why wait so long to say “Unu noh di hold AGM when unu supposed to?”

Wilfred ‘Sedi’ Elrington

“Actually it’s my fault to have been lax, but the problem I have is that I am not motivated by money.”

Reporter

“You said you’ve spent hundreds of thousands on this case so far.”

Wilfred ‘Sedi’ Elrington

“Yes, if you know the amount that I have to pay out in legal costs and costs, it’s not anything to sniffle about.  It’s a lot of money, but I will sell everything to pay my legal costs in my quest to get justice.”