This reassurance came yesterday in a press statement from the GBPA, which noted that various projects which have been attracted to Freeport by the new management team at the Port Authority are in advanced stages of negotiation and should materially improve the economy of Grand Bahama.
“We also wish to confirm that we have had no negative reaction to investment in Freeport thus far, as a result of those negative statements and are encouraged in respect of the sustained interest of investors in the economy of Freeport,” the GBPA noted.
The statement also noted that as chairman of the GBPA, Hannes Babak enjoys “the full support and cooperation of the management team at the Port Authority, and we are working aggressively to improve the Freeport economy.”
Babak, a native of Austria, was appointed chairman effective June 1 following the resignation of former Chief Executive Officer and Co-chairman Julian Francis.
Following close on the heels of Francis’ resignation, Executive Vice President Barry Malcolm resigned, and the position of deputy chairman, held by Willie Moss, was made redundant.
The exit of the three Bahamian executives from the Port’s management precipitated a hailstorm of negative comments that increased after a public battle began several weeks ago when Mary St. George, second wife of the late GBPA chairman, Edward St. George, filed a suit in a U.S. court for a share of his estate.
Mary St. George is reported to be seeking legal confirmation that she is entitled to 50 percent of her ex-husband’s estate. Further, she is claiming 25 percent of the 50 percent interest Edward St. George had in the GBPA.
As a result of that claim, noted Attorney Damien Gomez, who was retained by Caroline St. George, daughter of Edward St. George by his first wife, also addressed the matter.
Gomez said that with the assets of the estate, which are in The Bahamas under the purview of the Supreme Court of the Commonwealth of The Bahamas, it would be very unlikely that a New York order would be recognized, let alone enforced in this jurisdiction, particularly where the effect of it would be to deprive a citizen of The Bahamas, Caroline St. George, of her property rights.
Because of the publicized claims made by the two women, Sir Jack Hayward, one of the principal owners of the GBPA, issued a hard-hitting statement of his own.
“As I understand it, there are claims against the estate of my late colleague, Edward St. George, which may or may not have any validity,” Sir Jack noted. “The Hayward family owns 50 percent of the shares of the Port Group and has no knowledge or involvement in the above claims. In my opinion it is quite intolerable that Mary and Caroline St. George or any other persons should seek to damage the reputation of The Grand Bahama Port Authority by making irresponsible remarks about its operations.”
Sir Jack also emphatically stated that he was instrumental in bringing in Babak as chairman of the Port Group and “fully endorse everything that he has done since he was installed as chairman.”
By ANGELO ARMBRISTER, Freeport News Reporter
