Business News & The Courts
Waterloo Investment Holdings Co. Ltd. Files 10-million civil claim -vs- former minister Erwin Contreras

The Waterloo Investment Holdings, the Michael Ashcroft lead company that owns the ‘Port of Belize’ in the Port-Loyola area has filled a civil claim against former Minister of Economic Development, Investment and Trade ‘Erwin Contreras’.

The details of the claim has not been made available yet, but we are reliably informed that the group of PBL officers that presented their argument at a July 6th. press conference intends to present similar information in their claim, indicating that other proposed ‘Cruise Port’ developments may have been given preferential treatment, that were not based on environmental facts.

One of the key points of the Waterloo / PBL argument is based on the fact that its project is a ‘brown-field-project’ that is an expansion of a cargo port that is operational, and the ‘Portico’ project is a green-field project (meaning: the project will disturb land and sea habitat that has been untouched); and that ‘Portico’s’ dredging of the seabed ( approximately 9-million cubic meters) will be more than the PBL Expansion cruise port project.