UPP provides hope to former Stanford workers

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Over 50 employees of three companies formerly owned by convicted fraudster Allen Stanford left a meeting Monday night in high spirits, based on a promise the leader of the country’s main opposition party made to them regarding outstanding severance.

Harold Lovell, political leader of the United Progressive Party (UPP), met with the workers of the Sticky Wicket Restaurant, the Athletic Club and the Sun Printing and Publishing Company Limited, who are still waiting for severance almost 10 years after Stanford was arrested for investment fraud.

Diana Browne, former accounting manager at Sun Printing And Publishing, was among those who attended the meeting held at the headquarters of the Antigua and Barbuda Workers’ Union (ABWU).

She said during the discourse the political leader of the UPP was informed that over 200 plus workers from the three companies in question are owed approximately $6 million.

Browne said Lovell made the commitment that should the UPP win the March 21 general election, they would pay the severance to the workers.

The UPP leader indicated that he would issue letters to the workers indicating such promises by the end of this week.

“He said they could possibly look at maybe paying it over the next nine months, so that by December 2018 we would fully be compensated. Running the calculations roughly, if its amortised over nine-months, it would be roughly about $700,000 a month.

He also advised the former Stanford workers that, if successful at the polls, the party would seek legal counsel to determine whether a case can be brought against the receivers.

If the receivers are sued, the monies, that would ordinarily go to the former workers, would be diverted directly to the government’s treasury to cover the amount that was paid in severance.

(More in today’s Daily Observer)

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