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The Ongoing Saga of British Atlantic Financial Services Ltd

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Providenciales, 31 Oct 2014 – The big question now in the ongoing saga of British Atlantic Financial Services Ltd is whether government will and can bail out the company which is reportedly $6.2 million in the red. QUOTE. The Premier earlier today aired his government’s position live on national radio and to media in a press conference… he conducted that press conference alone; MM was told that Finance Minister Washington Misick with responsibility for these matters, was already scheduled to be in Grand Turk and could not make the emergency briefing.

Media questions were centered on whether the Financial Services Commission was carrying BAFSL too hard… the Premier agreed that the reputation of the FSC is to “rule with an iron fist” but he admonished the Financial Services Commission and the Court to give deep consideration to the process and potential of this home grown company, which if decided should be liquidated, will see over 20 years of savings and investment down the drain.

There are said to be over 2,600 customers at BAFSL and Opposition Leader, Sharlene Robinson yesterday took the lead in standing to say the institution which once served as a savior to British Atlantic clients when it collapsed in 2008 must now be saved… Hon Robinson called the Premier who said he will be meeting with the official opposition and she wrote the Governor on the matter saying this in a press release: “With the information released yesterday by Managing Director of BAFSL, it appeared that the FSC did not allow the business to grow and create new sources of revenue which would have improved its financial footing and create a path to solvency.”

As for whether this situation will be any different than that of TCI bank, where despite seemingly valiant attempts to save the bank and depositors’ millions, the FSC was charged with moving too quickly to cause the closure… the Premier said his government cannot dictate, but is asking for considerateness. QUOTE. On Monday meetings with clients of BAFSL begin at the Regent Palms… the Premier encouraged residents to go.

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Subject identified

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SERVICE WITH PRIDE AND INTEGRITY

 

***MEDIA RELEASE***

May 18th, 2024.

Following a police shooting incident on May 14th, the Royal Turks and Caicos Islands Police Force (RTCIPF) is now able to name the deceased male subject, with the permission of the family.

The Serious Crime Unit contacted the relatives of the deceased, and formal identification has taken place, with the subject being identified as 14-year-old Antorens Dorcely, also known locally as ‘Toto’.

During this challenging time, the RTCIPF also expressed its deepest condolences to the deceased’s family, and the force will continue to offer support through our Family Liaison Officer.

In light of this incident, the RTCIPF is urging the public to show respect and sensitivity towards the grieving family by refraining from sharing any footage of the deceased on social media.

Sharing such material can cause additional distress and harm. We emphasize the importance of empathy and respect for the family’s privacy as they navigate their grief. The death of any young person is a loss to the TCI.

The RTCIPF is committed and dedicated to conducting a thorough investigation and ensuring that all aspects of the incident are carefully examined and the findings are communicated transparently to the public.

A request has been made to an external police force to conduct a review of the incident. This is a routine procedure and intended to ensure an independent and objective review of the facts. The community’s cooperation and respect during this time are essential. The RTCIPF assures the public that we remain dedicated to upholding justice and accountability.

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InvestTCI facilitates the Development Agreement Between TCIG and Molo Hotel Group 

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Providenciales, Turks and Caicos Islands – May 14th, 2024 – The Turks and Caicos Islands Government and Molo Hotel Group reached a pivotal juncture on Monday, May 13th, 2024, with the ceremonial signing of a development agreement at the Premier’s Office on Providenciales. The agreement, which received official Cabinet approval on March 13th, 2024, signifies a steadfast commitment to advancing the economic landscape of the Turks and Caicos Islands.

Molo Hotel Group is a family-owned business, renowned for its distinguished portfolio of high-quality hotels worldwide. The development initiative encompasses the construction of three distinct IHG branded hotels: InterContinental Turks and Caicos, Kimpton Turks and Caicos and Hotel Indigo Turks and Caicos. Scheduled for completion by 2027, each resort boasts a distinctive design from luxury to laidback sophistication spanning across the shores of Grace Bay Beach.

Kimpton Turks and Caicos – an epitome of luxury lifestyle living, will feature 192 guest rooms including three outdoor pools, a luxury spa and a fitness center. Additionally, seven dining options ranging from a beachfront restaurant to a rooftop bar.

Adjacent to the Kimpton, InterContinental Turks and Caicos will offer 59 classic luxury suites with panoramic ocean views. Mirroring its counterpart, this resort will offer an array of dining options and upscale facilities.

Steps away from the Intercontinental and Kimpton resorts, Hotel Indigo Turks and Caicos will embrace a sense of community and contemporary elegance, offering 56 bedrooms. The resort will feature an onsite restaurant, lobby bar, outdoor pool, and fitness room.

Beyond the realm of hospitality, this development agreement underscores the government’s commitment to fostering economic growth and enhancing employment opportunities in the Turks and Caicos Islands. Molo is partnering with the Turks and Caicos Islands Community College (TCICC) to actively promote hospitality as a career choice and support in developing training programs, career fairs, seminars, workshops, and events to raise awareness about hospitality careers. Molo has committed to provide employment and apprentice opportunities to TCICC students and provide mentoring and practical on property training to students.

The signing event was graced by Hon. Charles Washington Missick, Premier of the Turks and Caicos Islands, Hon. Jamell Robinson, Deputy Premier, Hon. Kyle Knowles, Minister of Public Safety and Utilities, Hon. Rachel Taylor, Minister of Education, Youth, Sports and Culture, Łukasz and Marcin Slominski, Owners of Molo, Ross Morrow, Managing Director Molo, Arik Kono, Vice President Upscale Development for IHG, Dr. Candice Williams, President and CEO of the Turks and Caicos Islands Community College, Angela Musgrove, InvestTCI CEO, Dr. Barbara Ambrister, Chairperson of the Turks and Caicos Islands Community College, Dr. Delores Stapleton- Harris, Vice President of Academic, Vocational and Student Affairs for the Turks and Caicos Islands Community College, Mr. Kevin Baxter, Dean of Technical Vocational Education Training (TVET) and Sheryl McLaughlin, InvestTCI Investment Services Executive.

Commenting on the development agreement, Premier, Hon. Misick, stated “The Memorandum of Understanding (MOU) signing of IHG/Molo Hotels is a significant step towards a sustainable future for hospitality in the Turks and Caicos Islands. Three hotels, Kimpton, Intercontinental, and Hotel Indigo, will be introduced, enhancing our tourism product and creating employment opportunities.”

He further added, “Partnerships with the Turks and Caicos Islands Community College and Turks and Caicos Islands Sports Commission are underway, demonstrating the Government’s commitment to developing human capital and elevating tourism offerings. This project will bring economic growth, embrace local talent, and enrich our economy.”

Additionally, Mrs. Angela Musgrove, CEO of Invest Turks and Caicos Islands, emphasized “This collaboration confirms our commitment to fostering economic growth and prosperity within our country. We have worked closely with Molo Hotel Group, and we are confident that this transformative project will further position the Turks and Caicos Islands as a premier destination for travel and investment. Much to our delight, it will also provide opportunities for engagement with our Community College and small business community.”

The Government of the Turks and Caicos Islands, operating through its primary Investment Promotion

Agency, Invest Turks and Caicos Islands, remains committed to attracting and facilitating Foreign Direct Investments to the country by providing a comprehensive suite of services. Through strategic initiatives and targeted promotion, the agency catalyzes sustainable development, driving innovation and small business opportunities across various sectors of the economy.

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Crime

Male Charged with Robbery

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#TurksandCaicos, May 13, 2024 – Detectives of the Serious Crime Unit of the Royal Turks and Caicos Islands Police Force have charged a man who allegedly stole a vehicle.

The accused, DANVANTE  BRISCO, 30,  of  Kew Town, Providenciales, was charged with:

  • One Count: Robbery
  • One Count: Taking Motor Vehicle Without Authority
  • One Count: Using Offensive Weapon to cause fear

Mr. BRISCO appeared in court today (May 13 ) and was granted bail of $7500.00 with one surety.

The matter was adjourned to July 05 for a Sufficiency Hearing.

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