Discovery Expedition goes into receivership

There are unconfirmed reports reaching our newsroom tonight that Discovery Expeditions, a local tour company belonging to Belize City businessman David Gegg, has gone into receivership.  The insolvency of the concern is rumored to be a multimillion dollar debt owed to the Atlantic Bank Limited.  Difficulties in servicing the loan have resulted in General Robert Garcia being appointed as the receiver of the company.  In December of last year, Gegg evaded a committal warrant for failure to pay almost two hundred and six thousand dollars in General Sales Tax.  Despite agreeing on a reasonable payment plan with the G.S.T. Department, Gegg subsequently defaulted on the sum.  The proprietor, who was represented in court by his accountant, was reportedly advised to declare bankruptcy in an effort to straighten his mounting arrears.  News Five understands that a number of local businesses with whom Gegg transacted will be also affected by the failure.