Barrack getting $8 million more
Building contractor Al Barrack has so far received $5 million from the Government and is in line to receive another $8 million.
This assurances from Minister of Finance Chris Sinckler, who has further revealed that the two sides are in the process of completing negotiations for the transfer of the Warren’s Office Complex building to Barrack in settlement of the Government’s $70 million outstanding debt to the contractor.
“It will then be leased back to Government for the offices that are there. . . . Government will then pay him [Barrack] rent and that process will continue until the debt is liquidated,” Sinckler explained.
While noting that the matter was still before the court, the Minister of Finance said: “The other point is that of course there is some residual, part of which was paid – the $5 million.
“There is an additional $8 million that has to be paid to him, and I believe that resolution is being prepared by the Ministry of Housing and Lands for passage in the Parliament of Barbados. And once that is done, that particular phase will be completed and then it is the issue of the lease back, which the two lawyers on both sides and Mr Barrack himself are now finalising,” Sinckler noted.
Since 2006, Barrack has been waiting for payment after an impasse between his company and the National Housing Corporation (NHC), which was responsible for the award of the contract, ended up in arbitration in July 2002. Barrack was initially awarded $34.5 million for his work on the building. The Barbados Labour Party Government at the time immediately appealed that judgment, but it was upheld by the Supreme Court two years later.
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