Crocland goes belly up and into receivership
National Transport, the second bus company owned by the Novelo brothers, David and Tony, is not the only business to go belly up. Croc Land has also gone into receivership. According to an ad in the newspapers, Arturo Vasquez and Kevin Castillo have been appointed as joint receivers and managers of Belize Crocodiles and Reptiles Breeders Limited of Calle al Mar, Belize City. The business is the parent company of Crocland which is owned by businessman Luke Espat.
I think the government should interven on this matter. Well first of all there are people without work and people with out transportation.
I believe that a governemnt should never guarantee/fund/or bailout a private business. Unless you are talking about an industry that is too big to and too important to be allowed to fail and I am afraid that Croc land is not one of those. Sure people lose jobs, but hey man and ,man lose job every day.
Why should my hard tax dollars help the Novelo’s and Espats? No Way!!!! If they cannot run a business to bad for them. While I understand it affects working Belizeans, I still dont think we have to use the little money we have to run the country to bail out these individuals.. No Way…spend our money for something better…
I have not heard mentioned anywhere about Belize Aquaculture being up for sale and also closing down. The number of large companies that have gone under recently is staggering. Dickies, Fresh Catch, BAL, Novelos, wood depot…. Seems production costs in Belize are too high for any large, labor intensive industry to be able to make it. I see in the large fruit plantations down south most if not all of the workers are immigrants. Not sure what the future holds for this nation of ours.
No government intervention on any of these business that goes under, it showes that only a few in belize has connections to borrow the amount that Espat and Novelos borrowed time and time again and fail to repay. Its about time some of these workere srart thinking about doing something for themselves rather than being employed by someone.
Josie…the employees are not to blame. I have been working for the same employer for the past 16 years and i feel I get along great with my employer. But i am lucky i guess cause I have an employer who respects the laws of Belize and abides by those laws. So many so called “business men” run companies in Belize and rip off its employees. But on the other hand employees don’t bother to know thier rights and so the employers take advantage. The Novelos have time and time again taken advantage of its employees and the ministry of labour just plays as if they don’t know what is going on….So employees get empowered and know your right….
I’ll have to pick my words carefully here, and my anger is raising:
These damn shell companies are set up initially to fill bank accounts of the very select few, then run into the ground without any care. Seems the same guy is at the helm to “sink the ship” in many of these cases.
Who was steering the following before collapse:
DFC
Universal Health Care
Crocland
Next question (same answer)
Who was at the steering wheel of DFC when the $30 Million was dished out to Novelos in one morning?
Answer – Troy Gabb
Who are the chief benefactors of these companies when banks literally threw million at these companies?
Answer – PUP cronies/elite
In a perfect world, forensic auditor should be called and charges of fraud should be levied in all the above cases above. Will anything happen – nope, UDP’s turn when the PUP party are back in power.
Damn. Another business belly up, another increase in the unemployment figures, another load of families in dire need over the Christmas and beyond….yet the fat bellied, 2010 Suv driving, cuban cigar smoking ones are laughing all the way to their offshore banks.
INSHALLAH – what comes around goes around. ALL will be held accountable for the deeds conducted in this life. Your mansions, fancy rides, untouchable foreign bank accounts will not help you that day. Bring forth that final trumpet.
NOVELOS AND ESPATS ARE SOME OF THE BIG FAT P.U.P.’S THAT GOT BIG LOANS WHEN THE P.U.P’ S WERE IN POWER SO WHY CANT U GUYS COMMENT ABOUT THAT ONLY THEM GOT THE BIG LOANS AND DIDNT WANT TO REPAY THEY WERE USE TO GETTING AWAY WITH NOT REPAYING SINCE THEIR PARTY WAS IN POWER BUT I SEE IT FIT GET UR MONEY OR COLLATERAL BACK BANKS . THEY RAN D.F.C DRY AND THEY ALSO ALMOST RAN SOCIAL SECURITY DRY NOVELOS AND ESPATS CRYING NOW I KNOW THEY PUT SOMETHING TO THE SIDE AND THE BANK WILL NEVER GET EVRYTHING BACK BUT ATLEAST THE GENERAL PUBLIC SEE THAT THEY WILL NO LONGER GET AWAY WITH BIG UNPAID LOANS AS FOR THE EMPLOYEES THEY KNEW THIS WAS COMING THEY KNEW THESE GUYS WERENT PAYING THEIR LOANS
Audits should be made to make sure these guys are not milking the company and leaving the bank to pick up shells. No way should GOB should interviene or put up monies. HELL NO.
THE entire WORLD is undergoing a RE-ADJUSTMENT ……….THIS IS THE TIP OF THE ICEBERG.
If poor get the little the have crow footed why no do it to the rich that can afford it.
Well its about time the the bank step in on the Novelos, because the poor people who can’t pay their mortgages are losing their homes left, right and center, without out any consideration from anyone.
Labor costs too high in Belize
Employer Social Security payments too high in Belize
Business too low in Belize
We need to lower the minimum wage and say no to social security.
CROCLAND……………THE AMUSEMENT PARK …………….. THAT ATE ITSELF!!!