New development in Portico Saga

New development in Portico Saga

Love News has received a copy of a letter from the BNP Paribas, dated September 1, 2020, and addressed to former Prime Minister Dean Barrow, former Ministers Tracy Panton and Erwin Contreras.  In that letter, the bank wrote, quote, “we refer to the project in subject currently under joint development by Portico Enterprises Limited and Boskalis Westminster Contracting Limited … In order to show Boskalis’ strong interest in the development of the project, we hereby deliver this equity commitment letter whereby we commit to invest in the project sufficient equity to make it successful …” End of quote.  Another letter was sent to the Barrow, Panton and Contreras, three days later on September 4, 2020, verifying the financial standing of Boskalis Westminister Dredging Company, saying, quote, “we have the following credit facilities in place for Boskalis Group (1) an uncommitted overdraft facility of 25 million Euros and (2) a committed revolving credit facility of 88 point 9 million Euros.”  End of quote.  Two months later, in November 2020, Erwin Contreras proceeded to sign the infamous Definitive Agreement.  With all the letters and documents being leaked, it is hoped that the Senate Inquiry will be able to discern fact from fiction.  We will keep you posted.

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