Commission of inquiry appointed for D.F.C.

It was promised as part of the historic agreement negotiated between Government and the nation’s labour unions…and today that commitment to investigate the Development Finance Corporation is about to become a reality. Three members of the Commission of Inquiry have been appointed. Herbert Lord is the government nominee, Merlene Bailey Martinez is the union nominee, while David Price was mutually agreed upon by both G.O.B. and the N.T.U.C.B. Price will also serve as chairman. The commission has wide latitude to investigate and, according to a government release, will look specifically into the five year period beginning on January first 1999. It will examine loan procedures, collection efforts and the securitization programme among other practices, with an eye to determine whether wrongdoing occurred and if so to identify those persons responsible. Chairman of the D.F.C. during most of the period in question was Glenn Godfrey and C.E.O. was Troy Gabb.