Dear Editor,
Thank you for allowing me space in your newspaper to relate the sad situation which has been confronting the pensioners and members of the WM Fogarty’s Pension Scheme over the past several years whereby they have not received some of the major benefits to which they are entitled.
The main reason being that the company (WM Fogarty’s Ltd.) and Trust Company Guyana Ltd. (the Custodian Trustee for the Scheme) have been engaged in a legal matter over the past six years, pertaining to the notification in regards to the winding up of the scheme.
I will not go into further details at this time suffice to say that the Custodian Trustee who represents the members and pensioners has so far prevailed in the High Court and Full Court of the Supreme Court of Guyana.
However, the company has appealed the matter to the Court of Appeal of Guyana, where it has been awaiting a hearing for over one year. Most importantly, related inquiries at the Court of Appeal disclosed that the lawyer for the Trust Company needs to secure and supply a copy of the written judgment given by the Honourable Chief Justice to complete the record for the hearing by the Court of Appeal. The pensioners cannot pressure him to do this because he was retained by the Trust Company.
Meanwhile, some pensioners have died without receiving their benefits, and by the time some of the others get theirs, it may not be of much benefit to them.
I would like to think that the legal representation being provided to the members and pensioners through the Custodian Trustee, under the circumstances should be able to pursue legal avenues for an expeditious hearing of the appeal.
It may also be useful to note that the company (WM Fogarty’s Ltd) is no longer functioning, but they continue to hold on to the huge pension fund.
I trust that the plight of these pensioners and members attract the appropriate attention.
This matter is causing the pensioners, including me, considerable anxiety and inconvenience.
While the grass is growing the horse is starving.
Thanks and regards,
William Whyte