Judgment imminent in citrus industry dispute

The Citrus Products of Belize Limited and Citrus Growers Association have been on a collision course over a number of issues. Both sides are not letting up and the future of the industry is at stake.  The C.G.A. is insisting it wants three of CPBL’s directors to resign, including Chief Executive Officer, Dr. Henry Canton. To this, the response from Canton is that he ain’t leaving and that CPBL has seen tremendous growth under his stewardship. According to the C.P.B.L., C.G.A. wants more dividends, although they have been paid over four million dollars already. Another sore subject is that the C.G.A. has fifty-one percent controlling interests in C.P.B.L., but cannot make decisions without support from members of Banks Holdings, an investor from Barbados, due to fine print in the investment agreement. With so many issues on the table, the dispute landed in front of the Supreme Court and a ruling is expected this week. Today the C.E.O.s from both the C.P.B.L. and the C.G.A. expressed confidence that the outcome of the case would be in their favor.

Dr. Henry Canton, C.E.O., C.P.B.L.

Dr. Henry Canton

“I think that come February tenth, tomorrow, the Supreme Court is going to rule—and I think everybody knows this—that the legislation is unconstitutional and that there can be more than one association. I think you’re gonna see a fracture of the industry. I think CGA is going to realize that it cannot force its membership, that it’s going to have to attract its membership and that it’s going to have to become something sexy that will allow us and want us to go and be a part of it. I also do believe and know that the other group, the Belize Citrus Mutual would like to not have two units but I think their position is that they see CGA as broken and therefore, until it is fixed—but I think ultimately and if I had my way and I could shuffle all cards on deck, I’d like to see both parties come back together.”

Henry Anderson

Henry Anderson, C.E.O., C.G.A.

“We see a light at the end of the tunnel and it’s not a freight train coming. I’ll have to be honest with you; there are many different scenarios that this thing can play out. We have been consistent and all we are advocating for is to get what the CGA should have under the investment agreement so we can have a say in how things develop. I don’t know what tactics the other side will bring—I know of many tactics that they can bring so we have planned for all of those as best as we can and we think we have our things in place. If we start by respecting what the rules are and the three people move off the board, things could move. We are confident that the courts will rule that way. I will say to you that the CGA, we understand that we have a responsibility for the entire industry and to ensure that the CPBL is a sustainable thing that grows and gets very big and beautiful.”