Receivership leaves 275 jobless for Christmas
For the second time, a company owned by the Novelo brothers Tony and David, has gone into receivership with its bankers for failure to meet debt obligations. So if you were waiting for a National Transport Services Bus this morning after nine-thirty, you would have been waiting in vain. The buses were called off runs and parked at the headquarters at the junction of Faber’s Road and the Western Highway. The Novelo brothers did not appear at a press interview at their lawyer’s office because they told us earlier they were on holiday. Instead, Former Operation’s Officer, spoke to the press saying that two hundred and seventy-five employees are out of a job just before Christmas.
Phillip Jones, Former Operations Officer, National Transport
phillip joes
“From nine-thirty or somewhere about, I was the Operations Manager. I am no longer the operations manager for them due to the fact that my service was terminated this morning.”
Jose Sanchez
“Exactly what happened?”
Phillip Jones
“About nine-fifteen, Mister Kevin Castillo accompanied by Mister General Garcia and Mister John Flowers, the Chairman of the Transport Board went in and Mister Kevin Castillo said he is acting on behalf of the Belize Bank and he is now the receiver for National Transport and they are taking over.”
Jose Sanchez
“How many employees do you have? What does that mean for them?”
Phillip Jones
“We have over two hundred and seventy-five employees presently. This morning they didn’t want to talk to us. I tried to ask questions. My concern was to ensure that the runs continue. Mr. Garcia and Mister Flowers told me not to worry about that and I asked if I could have mentioned to the workers that receivers are taking over now. And they said no you don’t need to say nothing and Mister Kevin Castillo asked the police to escort me off the compound. At this point in time, we have employees still calling myself and the directors and other management that they have been turned away from the compound and want to know what to do. So it’s uncertain what the employees position will be but at this point in time, everyone was asked to leave the compound.”
Jose Sanchez
“Now in terms of salaries, when was the next payment expect to be made? It’s the Christmas season.”
Phillip Jones
“Oh mien, you just give me a headache saying that just to the fact that today was our pay week that was to go through the bank this afternoon. What we normally do around this time, we were to pay all employee for the remainder of the holiday due to the fact that we are in the Christmas Season in December we normally pay in advance for the other work days. Right now, I don’t think shock is the word. Payroll was to go in today at midday. And that two hundred and seventy-five employees were to get paid for week that had past and the present week leading up to the Christmas holiday. And it’s really sad. Words cannot express how I feel knowing that we have all these employees knowing that won’t be able to have their salary or have access to their salary and the holiday is here.”
If the law doesn’t put the employees’ pay BEFORE the creditors’ rights, it should. Otherwise the court and receiver are complicit in slavery — making people work for nothing.
Novelos has always played politics to get loans and then default on them, they did the same thing to DFC. When will we start lending based on the 5C’s of credit and not political affilation
Sad…………..can’t think of another word.
Vote UDP all the way to hell. Vote 4 me Nayo and you will live on earth while I Nayo will live in heaven. I am godlike.
Can not pay the bank but they have moneys for vacations and fancy rides.
Vote 4 me Nayo and only I will have the fancy rides and not the businessmen of Belize.
I am sadden for this happening to the employees.
However, the ones affected were the employees more than everyone, so I call on the GOB to try take receivership of Novelo’s properties.
Novelos’ brothers owe millions and million of dollars to the Belizean tax payers; to be exact 30 million Belizean dollars.
Let’s not forget that Novelos borrowed from DFC under the direction of SAID MUSA & RALPH FONSECA; without ever paying back the FULL DEBT [ http://www.amandala.com.bz/index.php?id=7655 ] with the claim of bankruptcy. If they were bankrupt, they would not still be owners of NTS.
WHAT YOU CALL THAT? FRAUD? THEFT? EMBEZZLEMENT?
am certain that if any Belizeans have borrowed some thousands from GOB, they would surely be in jail!!!! Why not the Novelos’ brothers?
please note: am not PUP or UDP. I just post what I observe. Power to the Belizeans
We don’t care about the Novelo Brothers……….
BUT WE NEED TO RE-NAME…….. the Novelo Bus Terminal
…………………………….. THE POUND YARD (BRIDGE) BUS TERMINAL.
It’s more fitting for BC (Belize City)
it’s really a sad situation that we as employees run this risk at comapny’s own by people who live on greed of wealth not remembering that they live their fantasies from the sweat of us the employees. More outragous is that these s.o.bs tend to go on vacation while leave these employees without a paycheck, now let’s see what the human rights have to say? what the labours department have to say? and last but not least the wannabe pm barrow have to say to these situations we belizeans are facing now.
Oh my ! How could they just take off the operation manager off the compound without giving an explaination to 275 employees ……..treat them like dogs. they have serve the CO. and dont get an response to their question. where are they going to get their bread and butta now..,call LABOR DEPT. This cant stay like these . you guys are 275 . the number counts… but i hope something is done to alleviate for xmass…. Hope their is no MR. “GRINCH”
Poor workers but I guess they knew the company they were working for…Heard of the saying?. “A fool and his money are soon partied”. The Novelos went and played with a game that is intellectually bigger than them and obviously they would have loss.
Its sad to see things like this happening in our country. Its time for a change. Don’t call on the government or any department for that matter. They are all one in the same. We need a reformation, a change in the governments system. That is the only way the “people” of Belize will Prosper.
Mek wa poor black man mi try weh neh bally d try. All hell mi wa deh pan ih head. Y make exceptions?
Earl Grey, how can you not care about Novelos when they are the owners of the Transportation, as stated, they got 30 million from TAX PAYERS, spent it on fancy rides, vacations, real estate and come back to Gov’t they are bankrupt, I would not even accept those buses they have as collateral for partial debt. The banks need to bring down interest rates on loans to 6% and give loans according to CAPITAL/ASSETS OF THE BORROWER. They want to copy the US, THEN DO WHAT THEY DID, LOWER INTEREST RATES.
Guinea Grass, again thanks for the info. Sasha if Novelos has a history of defaulting on loans, 0 interest rate will be too much for them to repay. It is time to repossess everything the company & its proprietors own until these debts are satisfied. It is unfortunate that their employees are bearing the brunt of the strain for the company’s ineptness or what may be just plain fraud. Until these thieving con men in Belize have to actually get up & earn a living, the taxpayers will continue to bail them out & stand on the street side wiping the mud off their faces as these dipsticks whiz by laughing.
Sasha…………….YOU DO HAVE A GOOD POINT ABOUT THE INTEREST RATES……
they are way too high in Belize.
I hope different options could be considered, pursuing a fear solution to the matter. The service of transporting people should not be interrupted, because is of public interest; should in case the employees lose their jobs, they should be compensated with certain amount of money, as is a general rule of work relations, when a contract is terminated. In some cases, enterprises or industries that have huge problems, may receive an aid from government or financial institutions, so that the enterprise can get estimulus and betterment of the service. The workers also have a part in the solution, by dialoguing with directors and creditors with the purpose of reaching some agreements, in orden to maintain the company running.
To my recall, Sugar industries received help to continue working; in the U.S. some motor companies got managerial and financial aid to survive the crisis. In Mexico and the U.S, some automovile Unions agreed in temporary lowering the amount of working hours and days, and other means the impartially discuss, to avoid the close of the companies.