Belize Bank shaking up Luke Espat: Cruise terminal still on hold!
Friday, 03.12.2010, 08:50am (GMT-6)


By Rowland A. Parks - Staff Reporter

The Belize Bank’s foreclosure on Belizean businessman Luke Espat’s assets last week was but the latest in a number of recent bank foreclosures on several large businesses in Belize, which give silent testimony to the continuing crisis in the country’s economy.


Industry watchers are forecasting tough times ahead in the New Year. Espat’s problems with the Belize Bank might prove to be a minor hiccup for the inventive entrepreneur, whose partnership with Carnival Cruise Lines to build a modern port in the Port Loyola area of Belize City appears to have stalled.


Work on the port has been on hold since the Department of the Environment issued a stop order, for lack of an Environmental Impact Assessment (EIA). After an investment of some US$25, the project has ground to a halt.


Agents of the Belize Bank reportedly shut down Crocland Adventure and Eco Park located at Mile 25 1⁄2 in Biscayne Village, one of his major companies which is also tied to the cruise tourism port facility.

FULL STORY HERE: The Reporter - Belize Bank shaking up Luke Espat: Cruise terminal still on hold!