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Dec 12, 2017

Who Will Stand Up for retired PSWT Beneficiaries?

Magali Marin-Young

The saga of the Public Sector Workers Trust continues, following a claim filed by retired public officers Sheila Genitty, Ruth White and Darrel Gardiner as beneficiaries and representatives of the trust.  The beneficiaries have been at odds with the trustees of the group for quite some time and are responding to claims made last week by the trustees and their attorney.  Senior Counsel Magali Marin-Young says that the beneficiaries, a majority of whom are now retired, are seeking to have a reputable Belizean represent them as a trustee.

 

Magali Marin-Young, Attorney for Sheila Genitty, et. al.

“The trust deed names the unions specifically as the trustees of the trust and my clients believe that there has to be other named trustees who would look after their interests.  Please understand that over the years my clients have become very wary about the unions, in terms of the management of this trust, especially from the get-go the unions were denying that they were the true beneficiaries and two, as I’ve shown you, they’ve loaned themselves funds.  So the true beneficiaries would like other persons who are respectable persons in society to also be trustees along with the unions so that there is some check and balance on the management of these funds.  The beneficiaries also want a protector.  A protector of a trust is somebody who ensures, oversees the administration and ensures that the trustees are acting in good faith and so they want somebody who is not affiliated with the union and who is a respectable person in Belize, to be the protector of that trust.  So those, when we sit down with government, when we sit down with the unions, that is something that the beneficiaries want.  They want persons in addition to the unions to act as trustees to check and balance what has happened.”

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