Feinstein Group Challenges Government’s Land Acquisition of Stake Bank in Heated Exchange

The Feinstein Group has written to the National Trade Union Congress of Belize (NTUCB) appealing for their support as government proceeds to compulsory acquire the 23 acres of land belonging to Michael Feinstein.  A few days ago the union had written to the Prime Minister indicating that there is no public purpose for the compulsory acquisition and that in fact it would only be serving private persons who stand to gain from the furtherance of the Stake Bank Development.  The NTUCB, did, however suggest that if the government insists on going this route that they move in accordance with the Land Acquisition (Promoters) Act (LAPA) as opposed to the Land Acquisition (Public Purposes) Act.  The Prime Minister has since responded to the union, and with that, the Feinstein Group fired off a five page statement saying that the PM’s response is filled with inconsistencies and contradictions.  The main point of contention for the Feinsteins is the sudden interest in Stake Bank, when just last year the government was backing the Port of Magical development with consideration of a Definitive Agreement.  Prime Minister Briceno had a chance to respond to the Feinsteins earlier today saying that for them it is all about collecting the fifty million US dollars they are asking the government to pay for the acquisition.

John Briceño, Prime Minister of Belize: “I’m not surprised. They wanted  50 million dollars US for twenty three acres and $1.5 cents US tax in perpetuity so I’m sure I’m not surprised. I’m not going to go back and forth with the Feinstein.”

Reporter: Do you believe these negotiations are going to be very arduous ? 
John Briceño, Prime Minister of Belize:“It has been arduous from ever since.”

Also contained in the statement, is the involvement of the Honduran company, OPSA, which the Feinstein Group says has been a part of a wider conspiracy with the government in taking over Stake Bank.  Additionally, the document indicates that government’s assurances, including a $5 million indemnity, fail to protect Belizean interests and undermine local economic sovereignty.