I have seen the news item on the front page of the Freeport News regarding Fred Smith’s resignation as outside counsel for the Grand Bahama Port Authority (GBPA) and associated companies.
The REAL REASON for Mr. Smith’s resignation is that he has a very severe conflict of interest.
For over 20 years Mr. Smith has been outside counsel for the GBPA with unlimited access to our private information and private files.
For sometime Mr. Smith has been counsel to the trustees of the late Edward St. George Estate and I have repeatedly warned Mr. Smith, both in person and in writing, that he cannot represent the GBPA and the Estate as both entities are in conflict.
Mr. Smith has chosen to stay with the estate for whatever reasons I can only speculate.
As regards Mr. Smith’s comments about Mr. Babak, he seems to have conveniently forgotten that two of the Estate’s trustees (Lady Henrietta St. George and her brother James Euston) were responsible for appointing Mr. Babak as chairman of the Grand Bahama Port Authority and, in fact, James Euston was the main architect in drawing up Mr. Babak’s contract. In addition, James Euston and myself (with Lady Henrietta’s full approval) were the main players in making the changes in the management of the GBPA.
On the matter of my claiming 75% of the ownership of the holding company of the GBPA and in consequence 75% ownership of the GBPA, Mr. Smith has been shown the evidence and the documentation supporting my claim.
Either he doesn’t understand it or does not want to.
We shall be appointing a new outside counsel for the GBPA and associated companies.
Sir Jack A. Hayward