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Feb 6, 2015

Novelo’s Multimillion Dollar Arrear Unpaid Since February 2014

Nazira Miles

Today’s intent to apply for a committal became necessary when Antonio Novelo was also unable to pay the fifteen hundred dollars a month ordered in 2013.

 

Nazira Miles, Attorney for Development Finance Corporation

“Since February of 2014 no payment has been made, and therefore we are once again taking the step for a next committal application and that’s where we presently are.”

 

Reporter

“I understand that there was supposed to be a hearing this morning. What happened to that hearing?”

 

Nazira Miles

“We filed the committal application in December of 2014. Once the Court had asked for an adjournment, and we today had to ask for an adjournment because we can’t locate him to serve him with the document.”

 

Reporter

“What happens now? Does the DFC actively seek Mr. Novelo so that they can present him with the documents to appear in Court?

 

Nazira Miles

“Well we will make effort now to get in touch with Mr. Hubert Elrington to see if he still represents them. What would happen with the application is that he is in arrears for about fifteen thousand that he hasn’t paid on the order. He can come up front and pay that fifteen thousand and seek DFC’s indulgence as to continue paying the fifteen hundred or we re-examine him. In default of payment then he can be imprisoned for a period of time determined by the judge.”

 

According to Miles, they have actively sought payment from the Novelo family on numerous occasions even before the 2012 order to pay one hundred dollars a month. She says prior to that order the Court had determined that the Novelos did not have the means to make any payments at all.

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6 Responses for “Novelo’s Multimillion Dollar Arrear Unpaid Since February 2014”

  1. Ricky Malthus says:

    Can anyone believe that there is debtors’ jail in Belize in this super-modern world today? Does the loan contract state specifically that if Novelo doesn’t pay back the loan, he will be incarcerated? Please cite that part of Belize law which states that. If not , DFC cannotput the man in jail. And stop sending these idiots with summonses to incarcerate debtors. Even if there was a law to incarcerate debtors, that law would be challenged because the debtors didn’t steal, they obtain a legal loan by legal means. Where is the crime ??? We have to overhaul our legal system and get rid of all politicians who still believe in slavery!!!

  2. Ricky Malthus says:

    DFC and all banks must learn and accentuate the basic theory of old and modern art of money and banking by making asset/collateral based loans to protect themselves from default by borrowers. This stupid slave/Dickensian debtors’ jail belong to the rubbish heap just like rubbish heap of colonialism and slavery. WAKE UP Belizeans.

  3. Observer says:

    did not have the means to PAY LOL what bull shit, they just smarter that you, and can hide the millions right under your nose Ja Ja., only in Belize mi bother LOL

  4. kmh says:

    Look back to Channel five archives for 2004 story on the bankruptcy and comments from R. Fonseca. This story deserves better background. These people have been unable/unwilling to meet debts for a long, long time….and got bailouts.

  5. Eye in the Sky says:

    Do the Novelo’s not have a huge house in Benque? Fancy SUV’s and other rides. Properties all over Belize.
    Come on who in the court was paid off to determine Novelo’s did not have the means to make any payments at all.

  6. Al says:

    As usual, one set of laws for the politically connected, and another set for the regular belizean peons. how many of our properties have been confiscated by the banks?

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