Antigua awaits Caribbean countries responses on LIAT’s debts

Gaston Browne, Prime Minister of Antigua says he is still waiting on formal responses to Caribbean governments regarding his request to write-off the debt owed to them by the cash-strapped regional airline, LIAT.

In July the High Court in Antigua granted a petition allowing for the reorganization of the airline, the appointment of an administrator as well as staying all proceedings relating to the liquidation of the company.

The other former major shareholder governments of the airline are Barbados, St. Vincent and the Grenadines and Dominica.

Browne said he had written to the leaders of those countries and was awaiting an official response to his request.

In a reorganised LIAT, creditors will be asked to take a cut up to 100 per cent in some instances, but on average about 50 per cent.