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Jun 11, 2015

Developer Michael Feinstein Comments on Stake Bank Project

Michael Feinstein

For developer Michael Feinstein, it has been nothing but a series of headaches since the project began. The enabling legislation to start the project is delayed due to the lawsuit and now it appears that the Government is catering to its opponents.  It is reported that on June twenty-sixth, a bill in the House of Representatives will legislate for the head tax – the monies collected from passengers entering Belize of which various entities receive a portion. But if that goes through as planned, it only solves part of the problem. Following today’s aborted session, we spoke with Feinstein for the first time. He says he is not depending on the legislation to solve his problems, and also discusses his so far unsuccessful attempts to reach out to the Village to join his investment.

 

Michael Feinstein, Developer, Stake Bank Project

“It is what it is. We have to wait and see. I haven’t seen the draft so I cannot comment.”

 

Reporter

“So in relation to the talks that have been ongoing in which the prime minister has been talking with some of the other parties for FSTV. Where are we with that? And is there any possibility of any sort of settlement or do you think that you all will have to continue to pursue this to the fullest extent in court?”

 

Michael Feinstein

“We had an obligation to give them a first right of refusal as far as investing. We’ve done that; they have not responded. We made a second attempt verbally to have them make an offer or participate in shareholding and they again have not responded. So there is nothing from the other side as far as I am concerned.”

 

Feinstein called the further delay unfortunate and says he awaits his day in court.

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