Cash Plus drama

• Bailiff seizes trustee's furniture;
• Wildman threatens to press charges

Barbara Gayle and Philip Hamilton, Gleaner Writers

Tension filled the New Kingston office of the Trustee in Bankruptcy yesterday as a St Thomas bailiff and his team went about the removal of furniture in an attempt to recover an $8.5-million debt allegedly owed by Cash Plus Group Ltd.

"It is Government of Jamaica property they have removed because Cash Plus has no assets here," declared a defiant attorney-at-law Hugh Wildman, who is the trustee in bankruptcy.

Wildman, the court-appointed liquidator for the failed investment scheme and its subsidiaries, has threatened to press criminal charges, arguing that the property seizure was illegal.

Wildman's protests that Cash Plus had no assets at his office fell on deaf ears as the bailiff, Orlando Francis, and his team proceeded to remove furniture, including desks, chairs and computers with files related to Cash Plus investors. The seized assets were placed on a truck.

Agreed to return furniture

Following a meeting with Wildman; Robert Rainford, permanent secretary in the Ministry of Justice; and Solicitor General Douglas Leys, the bailiff agreed to return the furniture.

However, the items of furniture were not returned as an argument developed among members of the removal team over how they would get paid if the truck left without the property.

While the meeting was in progress, the men drove the truck away, but the bailiff later gave an assurance that the items would be returned today.

The court document, which was an order for seizure and sale, listed the Edward Seaga-headed Premier League Clubs Association Ltd (PLCA) as the claimant and Cash Plus Group as the defendant.

In 2008, the PLCA had brought a petition to wind up Cash Plus as it sought to recover funds owed under a sponsorship deal. Shortly after, however, a liquidator was appointed for the embattled investment scheme.

Order filed on Jan 12

The order for seizure and sale of goods was filed by attorney-at-law Minette Lawrence and was signed on January 12 by the registrar of the Supreme Court.

The court document disclosed that the applicant, Catalyst Ltd, had on May 4 last year obtained judgment against Cash Plus for storage costs for the period April 1, 2008, to September 30, 2009, at $478,000 per month plus interest.

Wildman said that on December 17 last year, he went to court to dispute the claim and raised legal points that it was invalid.

Wildman said another date was to be set for the hearing and Lawrence, who is representing Catalyst, was present in court.

Wildman said that while he was waiting for another date to be set, the bailiff came to his office with the court order.

Fraud charges

Cash Plus Ltd was headed by Carlos Hill, who is now facing several fraud charges along with his brother, Bertram, and Peter Wilson, former chief financial officer of the investment scheme.

They were arrested and charged in April 2008 after the collapse of the scheme. The cases are pending in the Corporate Area Resident Magistrate's Court.

Hill was charged last month with fraudulently inducing persons to invest in Cash Plus and his trial is to take place in the Home Circuit Court on June 13. The maximum sentence for such an offence is seven years.