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Supreme Court says Luke Espat owes millions to the Belize Bank

By on November 6, 2013

Businessman Luke Espat was dealt a punishing blow when the Supreme Court ruled recently that he is liable to the Belize Bank to the tune of $29.4 million. 

Channel 7 News is reporting that the Belize Bank brought a civil suit against Mr. Espat claiming that he guaranteed debts to the financial institution by four companies that he owns. 

According to Channel 7 News, those companies are: “Indeco Enterprises for 12.166 million dollars, Belize Crocodile and Reptile Breeders for 11.54 million, Belize Ready Mix concrete for 4.69 million dollars and Indeco enterprises again for 1.02 million dollars.”

The Belize Bank successfully argued that Mr. Espat signed as guarantor for the debts companies and is therefore liable to repay those millions of dollars to the bank.

Mr. Espat’s attorney, Said Musa has indicated that the Supreme Court judgment will be appealed.

One Comment

  1. Jash

    November 6, 2013 at 2:07 pm

    Said Musa y su retajila de robones. Luke Espat and family living it large, done eat and shit that money and now Belize economy gonna get shit up more with these malpago. If I was his family I would be ashamed. Then his family go marry other rich people and when rich people find out you BROKE, they leave u and ur picni like what happen with Luke daughter. These malpagos lives are so nasty. Their lives, their loans to live it up at other people’s expense. Yet they look down on us the poor people that go save our lee thousand dollars at bank. Also isn’t he trying to run for politics in San Ignacio? or is it another Espat?

    Reply

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