ECCO unable to pay royalties on schedule

CASTRIES, St. Lucia, Dec 30, CMC -The Eastern Caribbean Collective Organisation for Music Rights (ECCO) says it is unable at this time to make any payment of royalties to its members scheduled for the final quarter of this year.

‘Several reconciliation actions must be completed before any such distributions can be made and the reality is, the process has been well established and cannot be bypassed,” ECCO Chairman, Martin James, in a video posted on the social media.

James said the process is likely to be completed by January 10, next year, following which payments can then be processed by month end.

‘This unfortunate occurrence is unavoidable at this time and as such, the board would like to assure all its members that measures are currently being implemented to ensure that this is never repeated,’ James said.

Earlier this month, ECCO announced the dismissal of the chief executive officer, Steve Etienne, following an investigation into the financial operations of the organisation.

In October, Etienne, who had been involved with ECCO for nearly two decades, was sent on 30 days leave while a detailed review of the operations was undertaken.

Pin It

Community Rules

antiguaobserver.com is really happy to provide this forum in which all are encouraged to freely state their opinions without ridiculing anyone or being ridiculed. We've found that happens really easily if each comment is limited to the topic at hand. We will approve any comment that speaks solely to the story to which it is attached and is free from name calling and defamatory statements.

While we will not post comments questioning moderators' judgement, we will take such suggestions into consideration as possible ways to improve the experience of all community members. If you feel your submission has been disallowed unfairly or if a breech slips through our net, please let us know by e-mailing customer_support@antiguaobserver.com.