Half pay

If the Trinidad and Tobago Football Association (TTFA) owes you over $200,000, it is likely you will get 37 cents on the dollar.

Many creditors owed by the TTFA have now been paid under a court-approved debt settlement plan. Responding to Trinidad Express queries, Gerren Lovell, an official at the office of TTFA Trustee Maria Daniel, confirmed yesterday, that the majority of TTFA creditors have got their money.

“We have made payment to most of the creditors,” said Lovell. “(But) some are still outstanding due to information missing.”

Lovell confirmed that Daniel was out of the country and that other disputed claims involving Terry Fenwick and Peter Miller were not yet settled but are due to be soon determined in the Trinidad High Court.

“We have been assigned court dates closer to the end of this year and early January,” stated Lovell.

Pursuant to Section 44 of the Bankruptcy Insolvency Act, Maria Daniel of Ernst & Young Services Limited, was appointed Trustee of The Trinidad and Tobago Football Association (TTFA), on November 8, 2021.

Daniel’s duty was to oversee the liquidation of the TTFA’s near $50m traditional debt, after High Court Justice Devindra Rampersad approved a TTFA proposal to creditors, with respect to settlement of outstanding liabilities.

Daniel’s proposal would pay creditors from a US$3.5 million FIFA loan to the TTFA and would see creditors owed up to $200,000 paid in full. Claims above that were to be pro-rated from the balance. Further compounding the issue is that some of the settlement money has been put aside pending the court matters involving Fenwick and Miller, who have also made claims.

Among those owed by the TTFA were former national coaches Stephen Hart, Stephan De Four, Dennis Lawrence and current technical director Anton Corneal. In November 2019, High Court Judge Eleanor Donaldson-Honeywell granted Hart a US$742,444 judgment against the TTFA over unpaid salary and benefits. Lawrence was also awarded an undisclosed amount for outstanding salary and a World cup qualifying bonus, while in 2019, Corneal was awarded just over $3.4 million for breach of contract, prior to assuming his latest stint as TTFA technical director.

Expressing relief that the process was being concluded was USA-based former national women’s coach De Four, who was fired by the TTFA in 2019, after the William Wallace administration assumed office.

“I was paid,” De Four confirmed to the Trinidad Express yesterday.

I’m just glad this thing is resolved,” the T&T-born former T&T and Haitian women’s coach said. “This thing has been ongoing for such a long time.”

While admitting to “not entirely” being satisfied with the settlement, De Four was also nevertheless relieved that it had been concluded. “Based on what Maria said, there is the issue going on with Fenwick and Miller. When that is resolved, other funds may be available.”

Meanwhile, Corneal informed the Express that his matter had not yet been settled and that his lawyer Richard Sirjoo is still in negotiations with his current employer. “They are in discussion right now with my lawyer for it to be done,” Corneal said. “I am going to let my lawyer deal with that. He is in discussion with them and they will come up with what arrangement is best.”

Not so pleased at one point was Mike Berry, agent for Lawrence, the former national footballer and coach.

“Sixty-three (63) cents in the dollar was the agreed settlement amount,” Berry stated in correspondence to the Express, when the last offer was made. “Most of the creditors were delighted, overjoyed and in seventh heaven. But the more substantial creditors are now dismayed with the latest cents in the dollar offer of only around 37 cents. Their bitter disappointment with this despicable offer is very plain to see, particularly as there had been no warning or prior communication from the NC.”

The Express also attempted to contact Berry yesterday to determine whether Lawrence had accepted the offer, but was unsuccessful.

SOURCE: T&T Express