Archive for July, 2010

Arden calls for UDP coup

Cayman News | 26/07/2010 | 114 Comments

(CNS): The opposition’s representative for East End has called on his legislative colleagues on the government bench to throw out the leader of their party and the country. Arden McLean said he intends to bring a “no confidence” motion against Premier McKeeva Bush to the Legislative Assembly and asked the UDP members to back it. He urged the people of Cayman to lobby their representatives to throw out their leader for the sake of the country. Speaking at a PPM public meeting, McLean said the premier was not listening to anyone, least of all the opposition, and the only thing the PPM could do was bring a motion to remove him and hope that enough UDP members would support it.

He said the goal would be to have a secret ballot and then those on the government benches could mark an X to rid the country of the premier and the continually increasing fees that were crippling the people of Cayman.

McLean explained that this would then enable the country to have a new election. “We don’t want to form the government right away,” he said on Thursday evening at a public meeting at the back of the court house. “We want to go back to general election and let you decide who you want to have.”

Of the 15 elected members in the Legislative Assembly, nine sit on the government benches and six sit in opposition. Five of those are members of the People’s Progressive Party and the sixth is the independent representative from North Side, Ezzard Miller, who came to the House offering limited support for government but who has been increasingly at odds with it over the introduction of fees and other issues.

In order for the PPM to oust Bush from office McLean would need the support of Miller and just two members of the government.

McLean said that since taking office the government has introduce far too many taxes, making it impossible for ordinary people to survive. He said it was time to get rid of the government as they should not be allowed to serve their full term.

“This is the worst government since Columbus landed,” McLean said. He said while people criticised the former PPM administration, he accused the current government of being ten times worse. “They just don’t know what they are doing … they don’t have a plan,” the East End MLA declared.

He warned the people that more fees were coming to the Legislative Assembly later this year, when the government would be introducing an increase in vehicle and driver’s licence fees. Mclean pointed out that the opposition benches had proposed a number of different ways of raising revenue instead of the 25 cents on fuel, which had included increasing the one-off costs of licences but government had ignored the proposal because it now intended to bring these in as well as the fuel duty and not as an alternative.

McLean also criticised the premier for paying what he described as “a failed politician” from Barbados $25,000 to write a speech. He also took some of the government ministers to task for their silence, pointing out that Mark Scotland, the health minister and Bodden Town representative, had said nothing about the deputy premier spending $9 million on a hurricane shelter for the Brac, giving the island another 800 places when there was no shelter at all in his own constituency.

He also warned that the current government was stinging the people with taxes now to try and balance the budget in time for their final year in office when they would declare a surplus and an economic miracle with the removal of the deficit. However, McLean pointed out that in the meantime people would suffer as more and more fees were heaped upon them.

He accused government of achieving nothing and said that all of its stimulus ideas had failed. Using the controversial high net worth investor’s residency certificate as an example, he said there had not been a single application. He also asked where were the investors that, during the election, the premier had said were knocking on his door and asked if Bush had lied to the people.

“Everything they have done since they got elected is baloney,” McLean said, adding that, despite the criticisms, the people could see where the PPM had spent the money. Now, he said, the people were suffering and there were “too many tricksters”, but nothing would change unless the people did something about it and urged everyone to lobby their MLAs to support the no confidence motion.

Beauty pageant deadline extended

Cayman News | 26/07/2010 | 3 Comments

(CNS): Women aged between 18 and 25 have a few more days to decide if they feel the have what it takes to represent their country on the beauty pageant world stage, as the Miss Cayman Islands Committee has extended the contestant application deadline to Wednesday, 28 July. With financial troubles dogging the competition last year, the committee is hoping to rejuvenate the pageant which is closely linked to the promotion of the Cayman Islands as a tourist destination. The last contest was won by Nicosia Lawson (left) who held the title through 2009. The clock is now ticking on the need to crown a new Miss Cayman Islands if the country is to be represented at the 2010 Miss World in China.

The local contest is scheduled to take place on Saturday, 25 September, at the Lion’s Centre when the new ‘face’ of the Cayman Islands will be selected not just to represent the country at Miss World but also at the Miss Universe contest and throughout the year as a tourist ambassador for the destination.

Lynn Bodden-Smatt, the recently elected committee chair, said earning the title was a major accomplishment and the winner receives a fully paid educational sponsorship, a car and many other prizes as well as a memorable experience.

“Our competition is centred on a “Beauty with a Purpose” theme so contestants select a charity as their platform and work with that organization to foster public awareness and generate private sector support for its cause,” she added.

High school graduates of good character that possess charm, poise, personality, and have beauty of face and figure are encouraged to enter. Full details of the selection criteria are included on application forms which can be downloaded from www.misscaymanislands.ky or accessed through the Ministry of Tourism or by calling 244-2249.

The Ministry of Tourism holds the franchise for both the Miss World and Miss Universe competitions so the winner represents The Cayman Islands at both the 2010 Miss World event on 23 October and next year’s Miss Universe.

Open house on gambling

Cayman News | 26/07/2010 | 30 Comments

(CNS): A number of the community’s most outspoken supporters and dissenters on the subject of gambling will be coming together this week as part of an open public debate. Organisers are encouraging everyone to come and join the open house debate to give Cayman an opportunity to discuss the contentious issue ahead of the planned referendum in November. The hosts, Generation NOW, which has brought together a panel of seven local people who are both for and against, said the community’s attitude towards gambling appeared to be changing and it was time to have an open discussion on the subject regardless of its controversy.

Olivaire Watler, one of the directors of Generation NOW, explained that the organizers wanted to introduce a programme of a series of publicroundtable discussions on topical matters of national importance. “The topic of this particular forum was my suggestion as I have observed that our gambling law is not being enforced and the mores of our community appear to be changing so that certain forms of gambling, e.g. lotteries, are openly practised and socially condoned,” Watler said.

He explained that the open forum would help educate the population, particularly young people, as to the pros and cons of introducing legalised gambling prior to voting on a referendum and would hopefully foster constructive engagement between the proponents and opponents of legalised gambling. “It is easier to demonise someone for their views when you are not interacting with them personally,” Watler noted.

The panel is made up of Billy Adam, Reverend Nicholas Sykes, Gilbert McLean, Pastor William Peguero, Frank McField, Annie Multon and Carolina Ferreira. Most of them have declared their position publicly, but not all. Ferreira. who of the hosts on CayRock’s breakfast talk show, has said she is not committed to a position.

“We considered her a good candidate as she represents a different demographic – young, female, new Caymanian – and has a reputation for boldly challenging accepted mores and broaching taboo subjects. We hope she will act to stimulate discussion,” Watler stated, adding that Generation NOW had asked the Tourism Association and the Tourism Advisory Council to take part but were unsuccessful in finding a representative.

Radio Cayman will be broadcasting the forum live and listeners will be able to call in and ask the panel questions during the event, but Watler said he and his fellow organizer really hope to attract as many people as possible to the event itself, as Watler said he wanted to see more people engage in these type of discussions and not just leave it to the those in the political arena.

“In my personal view, in our Caymanian psyche there is an aversion to discussing controversial issues publicly. It is perceived that this should be reserved for politicians or aspiring politicians. I believe that this hinders our growth and development as a people.”

Earlier this year the premier said he would initiate a referendum on the subject following a petition delivered to him by Gilbert McLean. Although the petition fell far short of the figure required to trigger a people-led referendum, and despite the submission of a much longer petition from the Cayman Minister’s Association against gambling, McKeeva Bush said it was time for the people to decide once and for all after years of controversial debate on the subject.
He said the country would go to a referendum on the subject in November this year. Although there has also been debate about opening up the referendum beyond the electoral register, which stands around 15,000 people, the law does not currently allow anyone other than Caymanians who have registered to vote to take part in a national referendum.

The RCIPS has also delivered mixed messages over the issue with only a handful of arrests taking place over the last five years while illegal gambling continues to grow at a significant rate.

The debate will take place at the Sir Vassel Johnson Hall at the UCCI campus on Thursday, 29 July, 7:00pm to 9:30pm. ‘Legalized Gambling: Blessing or Curse?’ will be moderated by Rooster’s Crosstalk host Austin Harris. Listeners to Radio Cayman can call-in 1-800-534-8255 or 1 800 534 TALK to submit questions to the panellists. Everyone is invited and light refreshments will be served.

Generation NOW was formed to promote and enhance youth development in the Cayman Islands through academic, technical and vocational training. The organization aims to assist young people to become productive members of society, while enabling them to openly embrace the challenges of today and tomorrow. The now in Generation NOW is an acronym. It means No Opportunity Wasted.The directors include Marco Archer, Eziethamae Bodden, Andre Ebanks, Donald Spence, Olivaire Watler, Stanford Williams and the patron is Naul Bodden.

The primary goals of the organization are:

To assist young persons within the community in achieving their academic and personal goals whilst empowering their minds.

To help them build character and leadership skills, as well as raising their awareness on the importance of lending a hand to others, and eventually giving back to the community.

To encourage more of our young people to diligently pursue higher levels of education in sculpting their own future, creating a sense of purpose in and amongst our youth.

To offer education loans, in part and whole in academics, technical and vocational training on a tertiary level.

Worker injured after 20ft fall from scaffolding

Cayman News | 23/07/2010 | 9 Comments

(CNS): A 27-year-old man is currently being treated in hospital following a fall from scaffolding in Eastern Avenue, George Town, earlier today (Friday 23 July) . Police said that shortly before 11.00 this morning the man, who was working on the fourth level of scaffolding at Cayman Distributors, Eastern Avenue, fell approximately 20 feet to the ground. Emergency services attended the scene and he was conveyed to the Cayman Islands Hospital, where he is currently being treated for leg and facial injuries. Police have not yet revealed the circumstances surrounding the man’s fall. This is the second incident in the last two months involving a scaffolding accident. (Photo by Dennie Warren Jr)

On 4 June two men narrowly escaped injury when scaffolding on a building at Anderson Square collapsed during a heavy gust of wind from an approaching squall. The men were able to climb to safety on a cherry picker, which was parked by the scaffolding.

Suspects in serious offences plead not guilty

Cayman News | 23/07/2010 | 0 Comments

(CNS): A number of suspected serious offenders appeared before the grand court recently to submit their pleas regarding a number of different charges. Last Friday, Raziel Jeffers who is charged with the murder of Damian Ming on 25 March in Birch Tree Hill West Bay and the Murder of Marcus Ebanks on 8 July 2009 on Bonaventure Road, West Bay, as well as the attempted murder of Adryan Powell has pleaded not guilty to all the offences. Jeffers will now face two grand court trials in November of this year and March of next. A 16 year old boy charged with the murder of Marcus Duran in Maliwinas way in March of this year has also pleaded not guilty and will face a four week trial in November. Craig Johnson has pleaded not guilty to accessory to murder in the same case and will face a judge alone trial in January.

Charles Webster who is one of four men accused of kidnapping a young man for a half million ransom in March of this year has pleaded not guilty to a range of offences including abduction, blackmail, bodily harm, robbery and threatening to kill in relation to the islands first kidnapping for ransom. He will now face trial with Allan Kelly and Richard Hurlstone a date of which is still to be set. However, Wespie Mullings has pleaded guilty to abduction in connection with the same case.

Justin Manderson (18) who is accused of attempting to murder Andy Barnes at Kelly’s Bar in West in Junes has also pleaded not guilty and is expected to face trial later next year.

UK Tory MP backs offshore finance centres

Cayman News | 23/07/2010 | 7 Comments

(CNS): A conservative MP in the UK has spoken up for the world’s international financial centres (IFCs) in a debate in the British parliament this week. Mark Field, the Tory MP for the Cities of London and Westminster has argued that small international financial centres (IFCs) have endured unwarranted “political attacks and misguided criticism as major governments seek to understand the cause of the global financial crisis”. Field said initiatives currently being driven by the OECD, the G-20, the Financial Action Task Force, the EU and national governments run the risk of inaccurately pinpointing small IFCs as a scapegoat for the recent shortcomings in financial markets obscuring the real causes of the financial crisis.

According to a release from the International Financial Centres Forum Field said: “Small IFCs were not the cause of the global financial crisis. While it is convenient to blame far off countries for causing the financial crisis, even those who work in the financial markets do not accept that small IFCs were a major cause of the crisis.”

In response to the debate, Mark Hoban the Financial Secretary to the UK Treasury acknowledged theimportant contribution played by small IFCs to market liquidity in the UK, as well as the important link to the UK retail financial services market. He said it was crucial that the small IFCs were fully engaged in the process of raising global standards on regulation and transparency on issues such as prudential standards, anti-money laundering and the financing of terrorist activities. He recognised the efforts made by small IFCs to date and welcomed further efforts towards progress in this area. He also supported the call for a balanced debate in arguing that it was important that the UK government, the EU and the G-20 proceed on an evidence-based approach.

Grant Stein, global managing partner with Walkers here in the Cayman Islands welcomed the debate and the government’s response. "It is encouraging to see that the UK government is taking a more evidence-based look at the role of small IFCs. We are also pleased to see that there is growing recognition among law makers in the major economies of the positive role that the small IFCs play in the global economy and the contribution which these small IFCs make to the economies of many of the G20 and other countries."

During his debate Field cautioned against recent attacks on zero-ten tax regimes. He said that they reveal a worrying trend which not only undermines the sovereignty of independent states to set their own tax rates, but which also sees high tax countries seeking to export their high tax rates around the world. He welcomed the UK government’s decision to cut corporation tax from 28% in recognising the need to keep the UK competitive rather than attempting to defend high tax rates by criticising any tax competition.

He highlighted conclusions reached by the Foot Review on the UK’s relationship with its Crown Dependencies and Overseas Territories saying there was limited impact on the UK’s tax base as a result of so-called ‘tax havens’.

The UK’s Trade Union Council has argued that the tax gap created in UK government tax receipts as a result of offshore centres is £25 billion but Field said that a Deloitte Report, commissioned by the UK Treasury at the time of the Foot Report, showed that only £2 billion is potentially lost in tax leakages per annum.

Field said many small IFCs are able to offer stable, well-regulated and neutral jurisdictions through which to facilitate cross-border business for the benefit of the global economy pointing out that a number of academic studies have concluded that small IFCs create jobs within financial centres and in domestic economies; and can help poverty alleviation in developing countries. He argued that as a major net recipient of capital flows from small IFCs, the UK would suffer if its firms were to find it more difficult to access capital via the international markets.

It was also stressed that the Financial Action Taskforce gives many small IFCs a positive assessment in meeting its 49 recommendations – including measures to avoid concealing financial crime and terrorist financing. Backing arguments made by many in Cayman’s offshore sector Field argued that the OECD do not operate with the sort of transparency that they would expect of others and called for the government to outline measures it can take to ensure that the G-20 process is more inclusive.

Lawyers send students to study anything but law

Cayman News | 23/07/2010 | 1 Comment

(CNS): Although Maples and Calder is all about law and offshore finance the firm has traditionally offered a number of local scholarships to young people studying subjects completed unrelated to the legal or offshore world. Yesterday the firm announced that the 2010 non-legal scholarships have gone to five young people studying subjects that include mechanical engineering, biology and politics. Darren Ebanks, Morris Swaby Ebanks, Shenaye Ebanks, Takiyah Smith and Jameal WelcomeDale will all be going on to further education institutes overseas courtesy of the law firm.

Maples is one of only two law firms on the Island that has in place a non-legal scholarship programme. The programme, which has been running for over ten years, provides funds for school expenses each year until the completion of the student’s further education. Maples’ global managing partner Henry Smith added, "We are delighted to be able to assist talented young students achieve their goals. We had outstanding candidates this year."

The Maples non-legal scholarship is offered on an annual basis and is available to Caymanians who wish to pursue an undergraduate or post-graduate degree in any field. The firm also gives an annual legal scholarship and all applications are normally made in May of each year. Speaking about this years recipients Dale Crowley, Maples’ partner said, "Their individual motivation, dedication and outstanding achievements both in and out of school were key factors in the scholarship selection process."

Darren Ebanks will be attending the Florida Institute of Technology where he will major in Mechanical Engineering. Morris Swaby Ebanks who is a graduate of the Li Po Chun United World College ("UWC") in Hong Kong will be continuing his education in Political Science and Linguistics at Middlebury College in Vermont. Shenaye Ebankswill be attending the University of Tampa where she will major in Biology/Pre-med with a minor in Art.Takiyah Smith will be attending Oakwood University in Alabama where she will major in International Studies.Jameal Welcome has been accepted to Hiram College in Ohio on a soccer scholarship where he will further develop his soccer skills as well as study Computer Science, with a minor in Communication.

For more information on Maples’ non-legal and legal scholarship programmes, please contact Michelle Daykin on 949-8066 or at michelle.daykin@maplesandcalder.com.

Frog cuts power to over 13,000 homes

Cayman News | 23/07/2010 | 13 Comments

(CNS): A power outage in the early hours of Thursday morning stretching from WestBay to East End was caused by a frog, the country’s power supplier, CUC, has confirmed. More than 13,450 electricity customers in George Town, West Bay, Seven Mile Beach and up to Frank Sound and the Queen’s Highway in East End were without power for around 1 hour and 30 minutes between 2:10 am and 3:48 am when power was restored. CUC also stated that the outage was not connected to an island wide cut over the weekend and both were isolated incidents.

“This outage was the result of an animal making contact with one of our lines causing some of the feeders to trip. As always our teams worked hard to restore the power as quickly as possible and in a safe and efficient manner,” a CUC spokesperson said. “Although this outage closely follows the island-wide outage over the weekend, the Company can confirm that these are isolated incidents with no long-term or permanent impact on the integrity of its electrical systems.”

The power company did not reveal the breed of frog or explain exactly how it managed to cause such a widespread outage across the island but CUC offered its apologies for the inconvenience the frog caused to its customers.

Cayman takes lead on catastrophe bonds

Cayman News | 23/07/2010 | 2 Comments

(Royal Gazette): Recent figures published in Cayman have revealed that the islands is the leading offshore jurisdiction for listed catastrophe bonds, with a market almost seven times as big as Bermuda’s its nearest rival. There are 74 bonds listed on the Cayman Islands Stock Exchange with a value of over $7.7 billion. The first cat bond was listed in Cayman three years ago and Cayman Finance chair Anthony Travers says it has been a great success. "When you consider that the first cat bond was only listed in April 2007 it has been a great success story for Cayman and the Cayman Stock Exchange, particularly since Bermuda has in the past had the leading position in insurance related products."

Catastrophe bonds are used by re/insurers to give them extra capacity to cover catastrophic risks, such as earthquakes or hurricanes. They offer attractive rates of return to investors, with the risk being that investors can lose all of the principal if insured losses reach a predetermined level and the cat bond is triggered.

""These are fully regulated and transparent structures and, contrary to the misperceptions that still persist among a hard core of left leaning European bureaucrats, are quite typical of the well structured financial products that are attracted to an offshore financial centre like the Cayman Islands precisely because of the quality of its legal and regulatory regime," Travers added.

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Kurt queries Mac’s motives

Cayman News | 23/07/2010 | 111 Comments

(CNS): The recent amendment to the planning law, which removes the need for government to gain planning permission for development if it deems it to be in the public interest, has been questioned by the leader of the opposition, who asked why government needs to be above the law. Kurt Tibbetts said no government should ever have more democratic rights than its people. He queried the reason why the premier needed to remove the obligation for government to seek planning permission unless it planned to go ahead with a project where it would wish to avoid the regular planning process. Speaking at a PPM meeting in George Town on Thursday evening, Tibbetts told the audience that he felt “something stinks” over the change. (Photo Dennie Warren Jr)

The former leader of government business, who had responsibility for planning during his administration, explained that government, like anyone else, needed to go through the process of seeking planning permission when it intended to develop in order to allow objections to be aired and the people to be warned of the impending project.

However, clause 15 in the new amendments to the Development and Planning Law (2008 Revision) gives the government an overriding power to simply dispense with that process. This means that unless it chose to inform the people, the first a community could know about a major project would be when the heavy equipment arrived.

“How can you object when there is no application process? How can you appeal when there was no decision made?” Tibbetts rhetorically asked the people gathered at the court house. “I know people call me naive but something stinks with this. I see no reason why this amendment was necessary unless government has something in mind.”

The opposition leader wondered allowed why the premier would chose to remove government’s obligation to seek planning permission when it was an important, tried and tested part of the law which had served the community well.

“I believe this could be seriously detrimental,” he added. “No government should have any more democratic rights than the citizens it governs, and this may not seem serious now but just wait until government announces the project that it says it doesn’t need planning permission for.”

McKeeva Bush brought the planning amendments and new regulations to the Legislative Assembly earlier this month with a number of major changes, including significant increases in fees, the increase of storey heights for buildings on Seven Mile Beach, an environmental impact fine, the removal of the requirement for legislative approval for regulations and this overriding power of government.

Tibbetts said while much of the law was commendable, there were serious implications with the power to override the law, as well as the removal of the legislative input on regulations, which he warned was “a regressive and undemocratic step”.

Raising concerns about government’s future development plans, he told the people to lobby their government representatives about their own concerns, as he said the premier was simply ignoring any raised by the opposition.

The changes to the planning law could facilitate government’s proposed plan to build a cargo dock in East End, which has so far met with considerable opposition, not just in the local community but across the islands. With this amendment to the law, however, government will be able to by-pass the entire planning application process and move to excavation of the area, which locals say would have serious negative environmental and social implications for the entire area, despite any and all objections.

The opposition representative for East End, Arden McLean, and the independent representative for North Side, Ezzard Miller, whose constituents would be directly impacted by the proposed project have said they will do all they can to fight the proposal. They have both said they believe the dock is simply an indirect way for the owner of the land, wealthy investor Joe Imperato, to excavate and quarry the land he owns in the area to generate millions of dollars in profit.