Home' Trinidad and Tobago Guardian : September 11th 2017 Contents A6 news
Monday, September 11, 2017
Bank selling Tobago
hotelier's 2 properties
Three weeks after a threat of foreclosure, two prop-
erties owned by Tobago businessman Ken Patino have
been put up for sale.
There were newspaper advertisements this past
weekend for Patino's 175 square metre two-storey town
house at St Lucien Road, Diego Martin, and his restau-
rant and bar at Shirvan
Road, Buccoo. Persons
interested in purchasing
the properties have been
asked to contact the bank's
credit manager at a PO box
number to make offers.
An angry Patino yester-
day told the T&T Guardian:
"The bank advertising our
property for sale under
foreclosure for some de-
linquency in mortgage
payments. This is both
distressful and sad since
I felt that the bank was
holding back on such an action until the Bankers'
Association meets with the Tobago Chamber at
the end of September to discuss these and other
Tobago Hotel and Tourism Association pres-
ident Chris James last week told the Joint Se-
lect Committee meeting on Land and Rural
Development in Tobago that they are meet-
ing with the Bankers Association on Sep-
tember 20. He expressed concern that 18
businesses in Tobago are facing foreclo-
Patino yesterday lamented that since
Prime Minister Dr Keith Rowley met with
Tobago stakeholders on August 21 to dis-
cuss the sea bridge iasco and no solution
was found, banks had been calling busi-
ness owners "demanding their monies and
unveiled numerous threats to them to face
foreclosures on their properties because of
delinquency in their mortgage payments."
His business, Enchanted Waters Hotel and
Patino's Restaurant and Bar at Shirvan Road,
was among those affected.
He said on August 22, he received two calls
from the bank and was told the Diego Martin and
Shirvan Road properties would be advertised for
sale on August 26 "but the advertisement was not
done until this weekend."
He said what was curious was that when the bank
of icer called he was told they would withdraw
$72,000 from his bank account to cover two pay-
ments on each of the two mortgages.
This was deducted by the bank on August 23. Pat-
ino said since then he was "never contacted by phone or
in writing" and was shocked a decision was "unilaterally
made" to put the properties for sale.
The bank, he said, was also told he planned to sell
another of his properties to raise money to pay off the
mortgage, but it appeared they did not want to wait. Pa-
tino still hopes Government will intervene to help busi-
nesses in this predicament.
"I remain hopeful that the Government would do their
part in providing relief to all of us in furtherance of our
survival and more importantly the enhancement and
growth of tourism in Tobago and Trinidad."
Efforts to contact bank of icials were unsuccessful. But
one banker told the T&T Guardian that Tobago's situa-
tion is unique because of the sea bridge iasco and banks
need to "work with their customers in this very dif icult
The T&T Guardian was also unable to reach Tobago
House of Assembly Secretary of Finance and the Econ-
omy Joel Jack, who had promised to raise the business
community's concern with the banks and Finance Min-
ister Colm Imbert.
Kariwak Hotel owner Allan Clovis, who has been in
business for more than 35 years, said Government
should consider setting up a relief fund and assisting af-
fected businesses on a case-by-case basis.
No probe into
say AG, cops
Attorney General Faris Al-Rawi is distanc-
ing himself from claims by former Central
Bank governor Jwala Rambarran that there
is a conspiracy between the Of ice of the
Attorney General and the Police Service
to make him the subject of a political-
ly-motivated police probe.
barran, in a
claimed he was con-
tacted by a journalist
from a daily newspaper
who had informed him
that she was in pos-
session of documents
from the AG's of ice
was the subject of
a criminal inves-
tigation by the
to his former
duties as chair-
man of the Deposit Insurance Corpo-
ration while Central Bank governor.
He claimed to believe the journalist
as she had close ties with senior PNM
Contacted yesterday, however, Al-
Rawi said, "The Of ice of the Attorney
General distances itself from any form of
allegation made by Mr Rambarran. The
TTPS ... if there is any matter that they are
considering, stands as institution which
constitutionally stands completely
apart from any executive.
"I cannot endorse any such accu-
sations made by Mr Rambarran nor
has it been the habit of this Govern-
ment to conduct any of its matters in
the public domain and in the press."
Pressed on whether he was aware
if Rambarran was the subject of the
criminal investigation, the AG said he
was "not aware nor prior to be aware."
Asked if he was concerned that docu-
ments could have been leaked from his
of ice which were then shared with Ram-
barran, Al-Rawi said he could not speak to
"Mr Rambarran is someone who
stands on his own. I cannot step into
the mind of Mr Rambarran and I am
not aware of any communication
with any journalist or any media
person. I have not dealt with this
topic at all or otherwise," the AG
The AG reiterated that this
country follows the due process
principle ,adding that he strongly
denounced any allegations of issues
which stemmed from race and politi-
Checks yesterday with the TTPS also
revealed that Rambarran was not sub-
ject to any police probe at this time.
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