Two investors are now trying to recover hundreds of thousands of dollars

Daniel Cano

While residents and vendors were outside the compound picketing SIF’s takeover of the Dangriga Municipal Market Project from Kenard Smart’s K and G Construction, more specifically Gush and Emy Ramirez, Daniel Cano and Ernest Raymond were meeting with the distraught couple and attorney Audrey Matura-Shepherd.  A formal assumption of control was scheduled for two o’clock this afternoon, but instead of receiving the project Cano and Raymond were met by Ramirez’s legal counsel regarding compensation and other matters.

Daniel Cano, Exec. Dir., Social Investment Fund

“There exists a documented agreement between the contractor, Mr. Smart on the part of K&G Construction and Gush and Emy.  I am not so sure if the same applies to Mr. Bailey.  Under those agreements with Mrs. Emy Ramirez there is recourse in terms of how Mrs. Emy was to recover her funds from Mr. Smart.  So that is a matter between the two of them and really not for me to comment on.  On SIF’s part we had a contract with K&G solely.  Under that contract yes, we were asked to assign the monies over to Mrs. Emy as they became due and we were prepared to do so.  And however really, the truth is that there has not been a whole lot of work that we’ve been able to pay for.”

Isani Cayetano

“This project will be handed over to you guys this afternoon.  What happens next?”

Daniel Cano

“SIF will undertake a process to hire a new contractor.  It’s not something that will happen in the very short term.  We will have to prepare new drawings, bill of quantities etc… to put out to bid.  After that there will be that bidding process which has its own timeframe and we don’t expect that it won’t be until early next year that another contractor will be able to get back on the site to complete the work.”

We will continue to follow this story as it develops.