Page 536 - Week 03 - Tuesday, 12 April 1994
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So, was VITAB checked out at all? Yes, said the Minister. On 1 March Mr Berry told the Assembly:
The bona fides have been checked by Price Waterhouse, an internationally registered company.
On 2 March he said:
The Price Waterhouse matter was arranged in terms of looking at the bona fides of the people ...
On the same day he also said:
Price Waterhouse, as I said yesterday, are an internationally recognised company and they were to look at the bona fides of the people involved in the company. My advice is that they did.
Madam Speaker, the fact is that Price Waterhouse Vanuatu were never asked to check the directors or shareholders of VITAB. They were never asked to check the bona fides of these people. So, were the bona fides of VITAB's directors and shareholders actually scrutinised, as the Minister led this Assembly to believe? Back on 22 July 1993, before the VITAB deal was signed, ACTTAB recommended to the Minister in a briefing paper that:
... the Minister set in place an appropriate investigation process of VITAB Corporation, its shareholders and directors, to report as soon as possible.
This briefing note was approved by the Minister. What did Mr Berry do? To quote him again in the Assembly on 22 February:
In early September 1993 ACTTAB requested Price Waterhouse to conduct a company check of VITAB, and I am advised that the results of this check were satisfactory.
A few minutes later he continued, saying to Mr De Domenico:
I say to you, as much as it might cause your little bowels to knot, that in early September 1993 ACTTAB requested Price Waterhouse to conduct a company check of VITAB, and I am advised that the results of this check were satisfactory.
On 2 March the Minister went so far as to get his officers to check on what sort of search Price Waterhouse had done. Mr Berry received a handwritten note late in question time and he read it out. It said:
ACTTAB asked for Price Waterhouse to do the job. A general company search was asked for.
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