Lost bullbord posts P.001

Frank Giustra - Blue Pacific - clinton - Iacono - Arata

[goldenlust]

https://settysoutham.wordpress.com/2013/04/05/access-journalism-done-right-the-serafino-iacono-case/

Paula April 6, 2013 at 1:11 pm

Why does Blue Pacific look more like a family reunion than a private company owned by Serafino Iacono and Frank Giustra led by Jaime Perez Branger?
Correct me if I am wrong but Frank Giustra’s ownership in Blue Pacific appears to be 0%
20% BP Trust – whose beneficiary is Beatrice Drielts Pelaez mother of Serafino Iacono
20% KFK Trust – the family of Jose Francisco Arata
20% Torino Consultants Limited – controlled by Miguel de la Campa
20% The Carngton Trust – Mascherani Paolo family business
10% Orinoco Belt Venezuelan company 50% controlled by de la Campa and 50% by the mother of Iacono
10% Investment AVV Andes – Juan Manuel Pelez company.

Blue Pacific has been sued in Canada for failed corrupt corporate governance only to settle for pennies and repeat so maybe more like a dysfunctional family reunion.

Pacific also paid millions per year in rent to Blue Pacific, another company controlled by members of its management, company documents show. Board directors Serafino Iacono, Miguel de la Campa, and Jose Francisco Arata... Two Larrain Vial analysts in Colombia put numbers to that claim, concluding in a 2014 report that Pacific likely overpaid by 25%-50% on these friendly contracts. The analysts added that related party contracts carry a greater risk of default on receivables, and calculated that overall, the excess costs had a perpetuity value of USD 261m-USD 523m.

https://www.debtwire.com/info/2015/12/30/pacific-exploration-investors-highlight-corporate-governance-failures-finances-deteriorate/


Clinton and Giustra  https://www.clintonfoundation.org/our-work/clinton-giustra-enterprise-partnership