Oswald van der Dijs begins social justice foundation

POSTED: 12/28/12 12:49 PM

WILLEMSTAD – Utilities company Aqualectra dismissed its chairman of the board Oswald van der Dijs yesterday. He will not contest his dismissal. Instead, Van der Dijs will establish a foundation that will expose misdeeds of managers and directors.

Next week the Foundation Hustisia Sosial Kòrsou will be established. Van der Dijs will use this vehicle to open people’s eyes about the misdeeds of former directors, commissioners and political managers.

“In spite of the fact that it can be established that the shareholder (the government – ed.) did not act in line with the corporate governance code, it is not punishable. They are not going to jail. That is why I will put my money and my energy in the foundation. I am working hard on it. Curacao can no longer be managed like in the old days. The direction has to change. We have to make sure no rubble is created. The past two years the members of the board of Commissioners at Aqualectra have done nothing else than clearing rubble,” Van der Dijs said.

The chairman is accused of harming Aqualectra. According to the government, the transfer of shares of the Aqualectra’s BOO-plant to the refinery has caused financial damages to the company. The shares with a value of 62.1 million guilders went to the refinery at no charge. The government says that this is the reason Aqualectra closed its books in 2010 in the red.

There is no doubt that Aqualectra’s liquidity is fragile. To get out of Queer Street the government-owned company is talking to banks about re-capitalization. In the short term Aqualectra needs 208 million guilders. It has to pay a debt to Curoil, buy five generators worth 85 million guilders, invest 9 million in a reverse osmosis plant, supplement its liquidity with 15 million and pay a 34 million guilder deposit to the Bureau Telecommunication and Post.

Aqualectra-director Darick Jonis says that he is awaiting the position of the shareholder and that he declines to comment as long as parties are still talking.

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