David Gegg Defends Discovery Expeditions
And while Feinstein
is on the rise, as we told you yesterday, another tourism giant, David Gegg
, is having major financial troubles.
According to Gegg
, in 2007 the company secured the confidence of Atlantic Bank
, after securing administrative clearances for 2 projects, one in Belize City
and the other in San Pedro
says that in both cases, political interference blocked the projects from materializing, and as a result, his
Discovery Expeditions had to absorb all the financial obligations which he
made with the bank.
David Gegg's Discovery Expeditions Now In Receivership
one of the power players in the cruise tourism industry but David Gegg's
Discovery Expeditions has gone bankrupt.
blazed into the public spotlight in December of 2012, when the Department of Sales Tax issued a committal warrant for him because he
had tax arrears of over three hundred thousand dollars.
paid fifty thousand dollars and managed to avoid being committed to jail.
accountant Sheffield Eck told the court that he
had advised Gegg
to file for bankruptcy to clear up his
debts because the profits from his
two companies are less than what is reported due to unbudgeted and unforeseen expenses.
That other company is Cruise Solutions Limited
- which, we understand remains in operation.
Through Cruise Solutions
has contracts with at least one major cruise line and it is felt that with the rise of Norwegian in Harvest Caye, he
enjoyed an inside track.
There are unconfirmed reports reaching our newsroom tonight that Discovery Expeditions, a local tour company belonging to Belize City businessman David Gegg
, has gone into receivership.
The insolvency of the [...]
The company which its logo suggests has been operating since 1972 and is spearheaded by its President and CEO, David Gegg, has fallen in the hands of Receiver for Atlantic Bank, General Robert Garcia.