OT 399: E-mail from anonymous

 

 

Please find below a letter sent to the Antiguan Prime Minister, the Antiguan High Commissioner in Britain and the Antiguan Consulate General in Germany. Our group would like to keep you up to date with progress to enforce the promotion and protection of investment Treaty agreed between Her Majesty's Government and the Commonwealth country of Antigua and Barbuda.

 

Some British investors with Stanford International Bank have written to the FCO and have received the same answer. The department will not make any statement of support on our behalf to the Antiguan government. One wonders the purpose of these Treaties if those that sign them do not enforce them.

 

We would appreciate any support that the select committee could provide.

 

8 September 2009

 

 

ANNEX

"

Letter to the Consulate General of Antigua and Barbuda in Germany from Stanford Victim's Coalition - European Group

 

 

stanford international bank ltd - treaties between united kingdom/germany & antigua and barbuda

 

This letter is sent on behalf of the British and German investors in Stanford International Bank Ltd incorporated in Antigua. These investors purchased SIBL certificates of deposit directly from Antigua. SIBL is currently in liquidation on the order of the Antiguan government.

 

We draw your attention to the investor promotion and protection agreements which exist between the UK/Germany and Antigua and Barbuda. We also highlight your statement on the Antiguan High Commission website: 'the government is keen to assure investors that their investments are secure and well-protected'.

 

A number of our members have corresponded with the relevant Foreign Offices concerning these Treaties. The British Foreign and Commonwealth Office has stated 'this agreement contains a broad definition of investment in Article (1)(a) as every kind of asset and specifically states in Article (1)(a)(iii) that this includes "claims to money". Bank deposits and claims for interest would seem to fall within this definition'.

 

It has also been noted that a large amount of the funds that were entrusted to SIB in Antigua found their way into the economy of the country and that they were used for the development and support of many projects and employment within Antigua. Further, it is noted that Lands and Assets belonging to Allen Stanford and paid for by Investors money were seized by the Government of Antigua so denying the investors the value of those lands and assets.

 

Both Treaties mention many critical issues for providing protection for any UK or German investor in the event of liquidation, including time limits for restitution.

 

The Stanford Victims Coalition - European Group would like to know what your Government is planning to do to honour its internationally signed and recognized Treaties between the United Kingdom, Germany and Antigua and Barbuda. You will be aware that there are time limitations set within the Agreements that require you to respond to this situation. The Treaties also outline the further steps necessary if an investor believes that you have not honoured the terms.

 

We request that you address the terms of these Treaties and announce your intentions to honour them. Your failure to comply with the terms of the agreement will result in our having to take the appropriate legal steps to enforce said Treaty. We trust that this will not be necessary and we rely on you as a government of fairness and integrity to address this situation and honour your commitment to the principle and spirit of the Treaties.