Daily Archives: October 10, 2011

The demise of Rayside Construction, Barbados

Barbados Free Press cautions all to take this and everything you read at BFP or anywhere with a good dose of salt. Rayside Construction is now tied up in the whole CLICO mess, so this story matters because it’s OUR MONEY at stake as usual. That said, here’s some information from…

“Everyone Loves Rayside”

submitted anonymously via European proxy

This is nothing but the whole truth;

For sometime now, evil persons have sought repeatedly to attribute blame to Mrs Marquetta Rayside, wife of Keith Rayside Snr, for the demise of the Rayside Group of companies.

She has been accused of stripping the group of companies of its financial assets since assuming the office of Chief Executive Officer in 2005.

However, in this expose, this writer hopes to apportion blame where it is rightfully due.

Are Barbadians aware that prior to his marriage to this beautiful young lady, the group of companies was heavily indebted to the VAT Office, the National Insurance Scheme and Inland Revenue?

Are Barbadians aware that the group of companies was facing major challenges in servicing their bank loans having secured overdraught facilities carrying interest rates as high as 14 per cent in some cases?

Are Barbadians aware that on many occasions funds due to the company for work done for government agencies were garnished in an attempt to collect arrears due to the government agencies identified above?

How can anyone strip a company of its financial assets when its bankers and government agencies were keeping a keen eye on its financial dealings? Continue reading

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Filed under Barbados, Consumer Issues, Corruption

New car for CLICO crook Leroy Parris?

By now I think that everybody on the island has heard the rumour that CLICO’s Leroy Parris purchased a brand new Jaguar XJ. Nice car!

One thing I don’t understand though: where did Leroy get the time to shop for a new auto? I thought he’d be spending all his free moments looking for those hundreds of millions of dollars of missing CLICO assets.

Oh Dear! Barbadians know that Parris will never be held accountable for the missing assets because it probably involved former Prime Minister David Thompson who was CLICO’s lawyer for the decade when they broke the law and failed to file annual accounts.

Freundel Stuart’s DLP Government doesn’t want to touch that situation at all.

You know, as a CLICO policy holder I think I at least deserved dinner, a show and a couple of drinks from Leroy before he did what he did to me. At least with dinner and a show I’d be able to say I got something out of the relationship.

submitted by RLL

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Filed under Barbados, Consumer Issues, Corruption, Crime & Law