An international intrigue involving the Cotton Industry in Barbados
Who is Nitin Amersey? Nitin Amersey comes from a prominent family of cotton merchants in India. He is an outstanding businessman in his own right, as witnessed by this report from Forbes. Mr. Amersey knows cotton, and is highly regarded as an international businessman.
Amersey and Carsicot
In 1988, Mr. Amersey formed Caribbean Sea Island Cotton Company Ltd., or Carsicot.
The two major shareholders were: Mr. Amersey - 51%, and the Barbados Government - 33%.
Barbados Government Short-Lived Delight with External Investment
Initially the Government was delighted that Mr. Amersey was investing millions in Barbados, but at some point the local cotton growers and politicians grew envious of Mr. Amersey. They accused him of wrongdoing, but a forensic audit revealed no evidence to support this. Despite this, the Government changed the locks on Amersey’s office without notifying him.
Caught Someone Trying to Burn Down his House
Mr. Amersey had said that he had caught someone trying to burn down his house. This was around 1990! Oh, how history repeats itself! No one was charged with arson.
Winning in Barbadian courts, but defeated by the BDF!
This rough treatment did not scare off Mr. Amersey. He filed and won a court order in Barbados entitling him to $2 million worth of Carsicot equipment. The Chief Justice at this time was Sir Denys Williams. While Amersey was sorting his assets, three hundred gun-toting Barbados Defense Force soldiers seized the equipment! The BDF would not say where they were taking it.
Keltruth Corp. calls for an explanation
Amersey appealed to the Bajan court system, but he got an unpleasant surprise. A judge threw out his case saying he could not interfere with Government policy! If this report is true, Keltruth Corp. would like an explanation of the apparent reversal of the Barbadian Courts’ opinion. Citizens of Barbados need to be assured that the Legislative Branch of Government does not exercise undue influence over the Judicial Branch. Citizens need to know three things:
- Who ordered the BDF to seize these assets?
- Why was this order given?
- Was this order authorized by the courts?
Bajan Detectives sent to Montreal to Investigate Amersey
The National Post reported that two Barbados detectives flew from Barbados to Miami to investigate Amersey. The Globe and Mail said that Barbadian police attempted to search his Canadian bank records without government approval.
Mr. Amersey took his dispute before a World Bank arbitration board under an investment treaty between Canada and Barbados.
Amersey sought US$10 million damages
“ IF THE CARSICOT dispute does wind up before an arbitrator Scothalls will seek the following relief: - US$10 million in damages for what the company claims was the
illegal expropriation of the assets of Carsicot;….”
From: The Broad Street Journal’s edition of October 6, 1999
Barbados is still struggling to make cotton farming viable. Even Mia Mottley is considering Sea Island Cotton again even though pesticides alone are not enough. I wonder if she will be calling Mr. Amersey?
Let’s hear your opinion!
This post is based on articles in the following Canadian Newspapers:
- National Post (Cotton deal turns rotten for offshore business)
- The Globe and Mail (Cotton merchant takes on Barbados)
More reading: What is Sea Island Cotton? - EXCLUSIVE CARIBBEAN COTTON INC - Barbados Cotton Production Statistics - BackGround On Cotton