Thursday, Jan 17, 2019
HomeNewsGrand Lucayan VSEP amounts remain uncertain

Grand Lucayan VSEP amounts remain uncertain

While he refused to divulge specifics on the voluntary separation packages (VSEPs) for line staff of the Grand Lucayan resort in Grand Bahama, Lucayan Renewal Holdings Chairman Michael Scott said yesterday the government has adjusted the amount approved for those packages.

The government purchased the resort last year for $65 million. It hopes to find a qualified buyer to sell it to.

Lucayan Renewal Holdings is a special purpose vehicle established by the government that is handling the process and is also responsible for finding the buyer.

When reached for a comment on the matter, Scott said, “The Cabinet made adjustments to the amounts approved and recommended to the Cabinet by the board.”

He continued, “The amount to be paid to the line staff, which are not being recommended by the board, [has] been negotiated by the minister of labor with the line staff union management directly and those details should be obtained from him.”

When pressed further, Scott said, “Those details and specifics should be obtained directly from the minister. I would not wish to preempt him or steal his thunder. I can’t say anything else.”

Minister of Labour Dion Foulkes could not be reached for comment yesterday.

On Tuesday, he said the resort’s line staff will soon receive their payout.

He said there was a delay in “that transfer from the Consolidated Fund to the board”.

“I understand that was done last week, and hopefully very soon the employees at [Grand Lucayan] will be able to get their settlement packages,” Foulkes said.

He added: “We had a delay with the settlement packages with the employees at [Grand Lucayan] mainly because of the whole question of funding and having the monies transferred from the public treasury over to the governing board, which is chaired by Mr. Michael Scott.”

More than 200 employees applied for the VSEPs.

Last month, Minister of Tourism Dionisio D’Aguilar said it is expected that the resort will be sold by the second quarter of 2019.

On Tuesday, D’Aguilar said the government is in talks with eight interested buyers.

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