Wed | Sep 26, 2018

PNP councillor sells equipment to clear debt

Published:Tuesday | June 23, 2015 | 12:00 AM
Daren Powell

St Elizabeth councillor Daren Powell says steps are being taken to clear his multi-million-dollar debt arising from the purchase of a supermarket in 2012.

Last week, the Supreme Court granted an interim order freezing his assets until the debt is cleared.

The matter is to be heard in chambers next month.

Quintex Limited is the claimant in the matter.

It is understood that Powell purchased the business in 2012 for about $38 million but

has so far paid down only

$15 million.

Powell is being represented by the firm Knight, Junor & Samuels.

One of Powell's lawyers, Stacey Knight, said the supermarket has been closed because it was not a viable business.

However, she said some of the equipment is being sold to pay the debt.

She argued that Powell was deceived into buying the business he operated as Lyle Supermarket in St Catherine.

According to her, Powell was led to believe that it would have been profitable.

Powell represents the Malvern division for the People's National Party in the St Elizabeth Parish Council.