Antigua – Pirates Of The Caribbean (2) 26 March 2010 Article by Ian Moncrief-Scott for Mondaq.com Although the former Pirates of the Caribbean have been romanticized over time, the reality is that they were gangs of unscrupulous, relentless and merciless thieves. Suitable parallels today can be drawn between the modern Somalian pirates and the Government of Antigua. The tactics and modus operandi are different but the underlying motives are the same. Whilst Somalian pirates pretend that their hostile kidnappings are a means to feed their starving families, the Government of Antigua pretends that its expropriation of privately owned property is undertaken for the benefit of its people, which it describes as the poor citizens of a small, defenceless Caribbean state. In fact, the perpetrators of these acts of aggression are all self-serving individuals, whose first and only interest is personal enrichment. Subsequent interpretations, that these acts are meant to protect a generic pool of the underprivileged, has little resonance in the local community and none at all on the international scene. Expropriation is the cardinal sin of democracy and Antigua's unusual interpretation of eminent domain, as a legal tool of Government to take from one private entity in order to give it to another, allows its Ministers a quasi-legal opportunity for profit. It is disguised for local consumption in Antigua by claims of "returning Antigua to Antiguans". But masking the process behind a so-called public private partnership fools no-one, in the same way Somali pirates do not fool coastguards by pretending to be simple fishermen. The Webster's Legal Dictionary defines piracy as "plundering, violence or other criminal acts...". It is lamentable that a handful of individuals have successfully morphed piracy into the official policy of a sovereign nation. Having successfully expropriated Half Moon Bay, the Government of Antigua concluded it had established its right (and certainly a precedent) to seize the property bought with funds stolen by R. Allen Stanford from North American, Latin American and European investors. Now these investors, under the banner of the Stanford Victims' Coalition, are appealing to various Courts in international jurisdictions to find that the Government of Antigua acted in collusion with Stanford and as accessory to Stanford's fraud and should be held liable for the losses caused thereby. They are asking for the return of Stanford properties and businesses to the U.S. Court Appointed Receiver. They are asking for the right to dispose of these properties and assets as they consider equitable. They have every right to be concerned. No payment has been made or even offered to the owners of Half Moon Bay, in spite of the Privy Council's decision confirming the owners' constitutional right to compensation almost three years ago. With the determination of value of seized assets in the hands of the Government of Antigua, the Stanford Victims' Coalition is looking to a long, drawn-out battle before any equitable resolution is achieved - if ever. Therefore, it is quite correct to make every effort to ratchet up international pressure on the Government of Antigua and to bestow upon it the dubious title of "Pirates of the Caribbean". The SVC has been successful in receiving the support in the Congress of the United States. First the Senate and now the House of Representatives have tabled Resolutions requesting that all World Bank and Federal loans to Antigua be suspended until its Government co-operates with the requests of the SVC. Whether the World Bank will agree to this request remains to be seen. In the meantime, the SVC has initiated a well-publicized boycott of Antigua's tourist and investment businesses. So how does Antigua's Prime Minister react? Not by admitting that he had not responded to attempts at direct communication and constructive dialogue; not by saying his administration had been wrong to expropriate foreign-owned private property; not by making any immediate amends, but by crying foul and accusing the SVC of initiating a "smear campaign" against that tired old war-horse, "the poor, powerless people of this small Caribbean nation." No doubt, the people of Antigua pay the price of their Government's actions. But the cause of their poverty is not the SVC or the owners of Half Moon Bay. The Government of Antigua has failed in its duty of care to its citizens. Expropriation is not a sustainable investment strategy and those who practise it become pariahs, just like the pirates they emulate. So who are these modern day Pirates of the Caribbean? From the time Antigua celebrated its Independence in 1981, Lester Bird, Errol Cort, Molwyn Joseph, Gaston Browne and Asot Michael first raised the skull and crossbones. Now it is Baldwin Spencer, Harold Lovell and Attorney General Justin Simon who have joined the crew and wear the Jolly Roger with pride. Crucially, Prime Minister Baldwin Spencer wears his eye patch over both eyes, seemingly oblivious to the substantial mischief and long-term damage being done to Antigua by his key shipmates. Pirates of the Caribbean 1 can be found at Mondaq.com