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Tuesday, July 10, 2012

Andrea Stoelker SDC Power of Attorney Revoked

Grant Thornton are aware of the situation and are working with the Antigua Attorney General on this matter. They have assured me that there is nothing for the Stanford Victims to be alarmed about and they will be issuing a statement when the time is appropriate. 

Grant Thornton are executing a cooperative strategy which has borne fruit saving potentially millions in litigation costs and while giving up nothing to Stanford and his allies. 

It's so nice to see that at least one of the Receivers (Liquidators) are doing their job and doing it well. Thank you Grant Thornton for all your hard work on behalf of the victims, you have brought new hope to many of us. 

Source: Caribarena
R. Allen Stanford has revoked the power of attorney given to his fiancé Andrea Stoelker to run one of his last standing companies – Stanford Development Company in Antigua and Barbuda.

Attorney General Justin Simon has confirmed the revocation and notes that his office has speedily filed at the Deeds Registry.

Simon said the move now takes Stoelker out the control seat of the company and efforts are underway to obtain the resignation of Barbara Streete as Director of Stanford Development Company.

“The Power of Attorney that Mr. Stanford gave the Andrea Stoelker has been revoked and the revocation has been filed at the Deeds Registry yesterday (Monday),” Simon said. “I am also expecting the resignation letter of Barbara Streete to follow.

” Should the resignation be as forthcoming as the AG expects, Stanford Development Corporation will be left without a managing body, and the government would then explore the possibilities of putting the company into liquidation.

“The issues of severance would be addressed” when liquidation takes place, Simon said, as will the issue of “tracing all monies that have been received by Andrea Stoelker in respect of all properties of the company which either have been sold or leased.”

The Attorney General said that at the next sitting of parliament he would look to bring Stoelker’s management practices of the company under scrutiny.

When Caribarena contacted Andrea Stoelker for a comment on the matter she said simply, “I have no comment.” She opted not to confirm or deny.

Attempts to reach attorney for the Stanford Development Company Hugh Marshall for a comment on the matter were unsuccessful.

In the meantime, a spokesman for Stanford victims has said that the government of Antigua and Barbuda needs to step back and keep themselves out of the picture on this one as their intervention at this point could affect the little ground gained by the liquidators and others over the past years.

“If it is seen by the Americans that the government is in any way putting their fingers in the pie they will jump on it. All the good that is being done by the liquidators will be lost,” the spokesperson said.

The spokesperson added that as soon as Stoelker and others find out that the Antigua Government is making any attempt to assist those affected it could easily be spun into a matter of interference.

“It will be a very bad thing. Whatever they are doing it needs to be done quietly,” the spokesperson advised.

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