Bank zeros in on Luke Espat
The government is working on measures to bailout the sugar industry, and is also offering a grant to small growers in the citrus industry. But the signs of a bad economy have been hitting individual businesses very hard over the past year. The Mena group suffered tremendously earlier this year when the banks called in their loan note. And in startling financial news, it seems that one very prominent businessman is experiencing a recession of his own. Luke Espat, the proprietor of many businesses, is facing foreclosure by the Belize Bank. And if you look at today’s newspapers the pages of foreclosures and auctions of the number of businesses going in are alarming. Our attention was also caught by a property near Blancaneaux Lodge belonging to Tanya Hulse, who you heard about in the diplomatic spat, that is also going on sale.
the whole of belize is collapsing in on itself we will be a nation in perel we must get rid of this gov. now people we cannot wait any longer this gov has belize on the brink of disaster with no end in sight.
It seems like the world financial crisis is just now really hitting Belize so not even its small size is helping contrary to what many believed.
I would think that it would be in the best interest of the banks and all involved to consider the restructuring of those loans although I know how stubborn the banks in Belize can be when it comes to accepting less than their normal predatory rates on loans however it is not going to do them or anyone else good to enter into foreclosure and let all that equity sit and collect dust and become worthless. I think cutting those interest rates and entering into some interest only loans until this thing hopefully blows over will be a good move then they can start collecting on the principal again.
Tough times for everyone, everywhere. Now can someone explain how free land, sometimes developed with stolen money end up in foreclosure. How high are these people living?
Im almost certain that the Government will bail out Tanya and leave Luke to perish since he is PUP
hmmm… i hope they reap what they sow….
Port of Belize – very Cheap (Again) – Anyone interested???
I wonder if the banks will do the same to Billy Musa & the rest of the ‘Investors’ at the international airport???
Time for Luke the vulture espat to pay the piper. These people are way beyond greedy. They are inconsiderate to the extreme. The us government left the old Voice Of America site for the government and people of Belize. Former minister Michael Espat, Luke Espat and The ultimate !@#$%^& Papy Pena took it for themselves under the guise of establishing a deep water port for the people of Punta Gorda.
Its been 8 years and no deep water port. The site is dismantle, stripped of everything valuable. They got a loan from DFC using the site as security, sold assets from the site, paid government 300,000 and took the whole place for themselves. This requires an investigation. Guys, what is done in the dark will come to the light and light switch is being turned on as we speak.
ha ha ha belizean ganstars getting the real pay back.them a real gantas not the youths on the street.
ha ha its about time he is a bad business man an troy gabb is an#$@.