Houston Estates is disputing City Hall’s claim that it owes over $100 million in taxes even as Georgetown Mayor Ubraj Narine yesterday remained adamant that the company wants to evade paying its due.
“Houston Estates have paid their due according to what was stated. They [City Hall] have acknowledged and we have always paid. For them to turn around and multiply by 10 is something,” attorney for Houston Estates Timothy Jonas told Stabroek News yesterday
“The M&CC [Mayor and City Council] has been dealing with Houston Estates all along. They have seen them selling and they have been paying. Nothing is secretive…,” he added while questioning City Hall’s move to the courts.
Saying that it is owed over $100 million in taxes, the City Council has moved to freeze Houston Estates’ sale of 52 acres of land to Redstart Investments, which owns Unicomer and similar businesses in Trinidad, the British Virgin Islands and Belize.
Jonas said that he does not want to say much about the issue as it is currently sub judice but stressed that his clients do not owe City Hall.
However, Narine maintains that M&CC is owed and vowed to ensure that it gets its due, while hinting at irregularities in the transactions.
“I am not going to take this easily with Houston Estates. They need to pay their taxes… As the Mayor… I will take this matter very seriously because I am not against who you sell to or what the purpose, what I need is my taxes. That is all I need, that the taxes be paid to the Mayor and City Council and the Houston company to be reasonable enough to pay the city council. They inherit billions of dollars and we have billions of debts. Pay your taxes,” he added.
Narine said that he plans to gather the dossier of documents on the company and its transactions and share with the press as he wants to be clear about the processes. “The Houston Estate matter is a very wide one, which I do not want to give information that I do not have in front of me, but I will address this matter as soon as possible,” he said.
In October, Stabroek News reported that Redstart was looking to purchase just over 52 acres of land in the Houston/ Rome area, where a number of oil and gas companies are currently developing.
It was from that news article that the Mayor said the council learned of the pending sale and knowing it had outstanding tax matters with Houston Estates, it decided to “pull the company’s file” and confirmed that $144,272,228 in taxes was owed and no move was being made to settle.
For the mayor, it is unreasonable that the company would quibble to pay City Hall its due when has secured a multi-billion dollar sale.
He said the council had reached out ad nauseam to Houston Estates’ management to have discussions on their outstanding debt to City Hall and look at ways of payments.
However, he said the company kept snubbing all requests, prompting the move to the court.
“I encourage the company to meet with us so that it can be resolved. The Town Clerk is ready to meet with them so that we can have a smooth flowing of business between the council and Houston Estates,” he further urged.
Narine said that to compound matters, the company that Houston Estates is selling to wrote to City Hall informing it that they will also be going to court to block the injunction on the sale because their own bank financing for the purchase is being stalled by the legal proceedings.
Following that notice, City Hall sought legal advice and is currently engaging its legal advisors on the way forward.
