The majority of Globe Trust debtors have ignored repeated calls to repay by liquidators Nizam Ali, and only a tiny fraction of the funds have been recovered. Ali told Stabroek News yesterday that the funds collected so far are nowhere near what they should be, but he remains optimistic. The long-running appeal to debtors of the bankrupt company, which includes several directors, still stands according to Ali. Since taking over as liquidator, Ali has consistently appealed to those who owe Globe Trust to repay the organization.
The liquidator is required to make an important filing during the process and when questioned about this, Ali said a request for an extension is likely to be made. He said the slow pace at which debtors are responding to the process has affected it, particularly as it relates to moving forward.
Well! Mr Ali could start here! He could start by taking actions to have PNC/R MP Deborah Backer's $44M Range Rover forfeited as according to our investigations, the money owed by Deborah and her husband, who was a director at Globe Trust, is enough to reimburse 2000 depositors.