The whiff of corruption has become a stench
Please read, in the light of what we know now, this blog-post I wrote exactly a year ago. Gasol chief Alan Buxton said that the success of his company’s Malta project depended entirely on the election of the Labour Party to government.
It is easy to work out why the government will not now act despite Gasol’s published accounts last month which show clearly that the company is technically insolvent and that its auditors have expressed their concern about its ability to carry on in business.
This was a done deal and the Labour Party, as distinct from the government, cannot renege on it, as a result of which the government is now in a bind and the people of Malta have been saddled with some very serious problems.
Perhaps Times of Malta would like to investigate whether a clock changed hands.
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http://daphnecaruanagalizia.com/2013/10/speaking-to-international-oil-daily-gasol-chief-operating-officer-alan-buxton-said-the-success-of-the-project-relied-on-the-recent-landslide-victory-of-the-labor-party-which-came-to-power-in-march/
Electrogas insists that Gasol is solvent and it recently gained access to funding by raising “US$30m in the international bond market earlier this month.”
http://www.timesofmalta.com/articles/view/20141030/local/electrogas-insists-it-is-well-funded-and-will-honour-power-station-commitments.541951
I have tried Googling this. However I found no news that Gasol has raised anything.
To me this indicates further problems with the consortium and extremely shady and underhanded dealings. I also ask what happened to the money that Gasol has raised in the past? Is this a very large international scam?
Gasol plc is supposed to be doing a project in the port of Cotonou in Benin which is similar to that in Malta, but larger.
They are going to need much more than US$30 million to be able to make any significant investments.
This said, I have not seen one single picture of their developments in Cotonou.
What is really strange is that Gasol has obtained a number of loans or issued bonds, but there is never one single dollar coming from the shareholders. Why so?
There must be something seriously wrong somewhere.
What I find strange is the Chinese Interest in the area,
the involvement of Cooper who is Liberian, the “timely” Ebola outbreak.
The first medical team to go in to counter Ebola was the 50 strong team from China.
The UN spokesman showering praise was Chinese.
I don’t put China beyond anything.
If it has no respect for human beings at home, then life has no value all around.
I do not find it at all strange, that these are Labour’s new bedfellows.
After all muscle and restraining clout is going to be needed.
Also proof of the DONE DEAL is the reference by the Labour Party of the exact cost of the power station prior to the election. I know you had once written about it, but couldn’t find it.
The new costings come out at USD 29,999,999 and 99 cents. Just ask Konrad for the details.
Maybe Gasol sponsored Labour Party’s election campaign. Maybe that’s why they’re now technically insolvent.
If Gasol’s project depended solely on the Labour Party winning the 2013 election I cannot see why Gasol wouldn’t foot the campaign bill.
‘Taghna Lkoll’ was an expensive success campaign and somebody paid for it, surely not the Labour Party which hasn’t even paid its water and electricity bill.
@ Perhaps Times of Malta would like to investigate whether a clock changed hands.@. Ghandek xi chance if it was something to do about Arriva they would have done it immediately.
Power station powered bil-korruzzjoni u mhux bil-gas gejja. Konrat, please publish all the relevant documents and don’t hide anything.
Come clean or else you will be another corrupt pawn in the hands of your corrupt boss.
Maybe these are some of the businessmen that Anglu Farrugia used to see the the MLP HQ?
I am more interested to know if these are some of the businessmen who met at the Seaview Beach in the Bahamas.
The lid is slowly opening on the MLP/PL skip, and the stench is terrible.
Maaaaaaaaaa, I’m starting to consider that Simon Busuttil could have been right with the ‘Gas down gol-hajt’.