Northern Fishermen's Assets Under Foreclosure?
Written by Wendy Auxillou
Saturday, 05 May 2007
An ad appearing in the Amandala of this week (May 6) shows the DFC (Development Finance Corporation) announcing its intended foreclosure of many of the Northern Fishermen's Cooperative's assets located in Belize City, Caye Caulker and Mango Creek.
Two years or so ago, then Registrar of Cooperatives, Zenaida Moya, sounded alarm bells when a report on the state of affairs of the cooperative she had compiled showed the administrators / managers of the cooperative granting themselves hefty payroll advances/ loans.
An emergency election was called, and a new board of directors for the corporation was elected.
In a surprising turn of events, the new board immediately endorsed the same administrators / managers mentioned in the article as having granted themselves the loans.
Last Updated ( Monday, 07 May 2007 )