Bakr family buys back two prime properties
Gail Alexander (Guardian).Relatives of Muslimeen leader Yasin Abu Bakr were successful in regaining—through purchase—two prime properties out of eight belonging to the group which the State auctioned off yesterday.
The auction came less than a month after the People’s Partnership Government announced that the State would sell off properties belonging to the Jamaat to recoup costs pertaining to damages and loss of state property, resulting from the July 27, 1990, coup attempt by the group.
Auctioneer Peter Soon, who supervised yesterday’s proceedings, noted the 2009 court order for sale of the properties to recoup damages. Soon said interest in the issue of damages had accrued to $4.7 million between 1990 and 2000, and continued to accrue at the rate of $6,480 daily.
Accrued interest and damages to date total $42.3 million, Soon noted. Supervising the matter and representing the State’s interest yesterday was attorney Dana Seetahal, SC, and a legal team. On the auction block were ten properties, nine belonging to Muslimeen leader Yasin Abu Bakr and one at Las Cuevas, belonging to Muslimeen member Kala Aki Bua.
However, one property—at Woodbine Street and Upper Bournes Road in St James—was taken off the table since its title was in dispute, according to Soon. And another property at La Puerta, Diego Martin, failed to attract any bidders. At the end of yesterday’s four-hour auction, officials connected with procedings confirmed that the State obtained more than $6 million from the eight prime properties auctioned. Successful bids on properties ranged from a minimum of $72,000 to a maximum of $1.6 million.
The 50-plus gathering at City Hall, Port-of- Spain, where yesterday’s auction took place, was dominated by the presence of Muslimeen leader Bakr, who arrived at 9.30 am. Arriving at various points subsequently were Bakr’s sons Fuad and Ayinde, as well as Bakr’s wife, Indrani Maharaj-Abu Bakr. Other supporters included Mrs Janice Aki Bua, wife of Kala Aki Bua, former owner of one of the Jamaat properties at Las Cuevas. The Muslimeen group also included seven young men in khaki uniform and army boots.
One member of that group videotaped proceedings at the start of the auction. City Hall security was tight, with armed guards and electronic frisking of attendees. Bidding got off to a slow start, with low response from the audience. Auctioneer Soon had a tough job wheedling bids out of the City Hall audience.
But the first property off the auction block was land at Mayaro, which was purchased by 61-year-old Tacarigua businessman S Balkaran, who also purchased the Las Cuevas property. Next to go was a Marabella property, which was purchased by attorney Anthony Cherry, who said he was instructed by a client to bid on the property. This went for $1.6 million, the highest price in yesterday’s auction.
Cherry told the Guardian his client had been prepared to go as high as necessary, because of the location of that particular property. He declined to identify the client. However, the Guardian was reliably informed last night the client which obtained that property was HJ Stauble and Co Ltd.
After the first round of bidding, Bakr left at 11.10 am. But bidding was carried on by other members of his family. Ayinde Abu Bakr, son of the Muslimeen leader, succesfully bid $1.1 million for the family’s property at 10 Queen’s Park East, Port-of-Spain. Indrani Maharaj-Abu Bakr also successfully bid $1.3 million for a six-apartment property at Dibe, Long Circular.
A businessman who gave his name as Nagessar bought the other properties at Indian Trail, Couva. After the auction, Fuad Abu Bakr, another of Bakr’s sons, told the Guardian the family “had gotten back two of its properties of a sorts....”
Maharaj-Abu Bakr, who bought the Dibe property, said her purchase meant that she had regained the roof which had been over her head. Maharaj-Abu Bakr, who had been resident at the Dibe property, said the court judgment mandating the sale had not taken into account matrimonial rights and whoever had been resident in the property would have been affected by the sale as she might have been.
Soon, preceding the auction, had confirmed matrimonial rights did not enter into the issue of sale. After the proceedings, Soon said he would have liked a better turnout for yesterday’s auction. He could not say whether Bakr’s presence had affected attendance. Soon said there was no conflict of interest in members of the Bakr family bidding for the properties. He said the auction was open and there was nothing to disbar them from bidding.
“They were well within their rights to bid,” Soon added. He said he could not determine whether yesterday’s sale would have dealt adequately with the current levels of damages at issue in the matter. Attorney General Anand Ramlogan said yesterday that he would be getting a report from Seetahal, who would advise the State on what its options were in the issue.
He could not say what would transpire with the La Puerta property, which was not sold. Asked his views on the bidding by the Bakr family, Ramlogan said: “It was an open auction and they were entitled to bid like anyone else.”
SOLD FOR...!• Land at La Brea village, Mayaro, including sea frontage and trace access, purchased by S Balkaran—$72,000.
• Property at Marabella, purchased by attorney Anthony Cherry on behalf of HJ Stauble and Co Ltd—$1.6 million.
• 10 Queen’s Park East, Port-of-Spain, purchased by Ayinde Abu Bakr, son of Muslimeen leader Yasin Abu Bakr—$1.1 million.
• Six-apartment property at Dibe, Long Circular, purchased by Indrani Maharaj-Abu Bakr—$1.3 million.
• Las Cuevas property known as “Zorro,” including house, swimming pool, river access and beach frontage, purchased by businessman S Balkaran—$380,000.
• Land at Boodoo Trace Indian Trail, Couva, purchased by retired businessman, Nagessar—$310,000.
• Three lots of Land at Indian Trail purchased by retired businessman, Nagessar—$450,000
BAKR AUCTION FLOPS
State raises just $5.2m of $42.4m target
By Joel Julien (T&T Express).THE FAMILY of Jamaat-al-Muslimeen leader Imam Yasin Abu Bakr was able to buy back two of ten properties which the State had seized and publicly auctioned yesterday.
Indrani Maharaj-Abu Bakr, one of the Imam's four wives, and his son, Ayinde, successfully bid on two properties which were on the auction block yesterday.
Auctioneer Peter Soon supervised the auction, which was held inside the auditorium at City Hall, Port of Spain.
Soon said there was no difficulty with Abu Bakr's family repurchasing the properties, since according to the terms of the sale "parties are at liberty to bid".
"If Mr Bakr himself wanted to bid on a property we would have accepted his bid. So if it is okay for him then it must be okay for his family," Soon said after the auction.
Ten properties, owned by Abu Bakr and his second-in-command Kala Aki Bua, were auctioned yesterday, as the State attempted to recover a $42.3 million debt (including interest) incurred from the destruction of the Police Headquarters during the 1990 attempted coup.
The State raised $5,212,000 at yesterday's auction. The auction came as a result of a ruling by Justice Rajendra Narine on September 11 last year.
It is now up to the State to determine how to recover the $37 million shortfall, Soon said. The total price of the two properties purchased by the Imam's wife and son was $2.4 million.
"We anticipated a better turnout. I believe if there were more people present the competition would have pushed the prices higher," Soon said of the procedure.
Uniformed police officers were stationed at the entrance of City Hall and inside the auditorium.
There were 62 registered bidders at yesterday's auction, according to registration forms.
Abu Bakr and a group of Jamaat members, dressed in khaki uniforms and black kippahs, formed part of the audience at yesterday's auction. Abu Bakr left the auction around 11 a.m.
Soon began the auction proceedings by listing the rules and terms of sale for the properties.
"The properties are being sold 'as is and where is'. So I give no warranty as to title. You buy at your own risk," Soon told prospective bidders.
At the end of yesterday's auction only a house and property at La Puerta, Diego Martin, was left unsold. It was being offered for $1.1 million.
Abu Bakr's son Fuad made a $100,000 bid for the property. It was refused by Soon.
The ten properties which were sold yesterday were bought by five bidders.
The most expensive property to be sold yesterday was a property at Maharaj Lands in Marabella.
Anthony Cherry, a former board member of the Urban Development Corporation of Trinidad and Tobago (UDeCOTT), purchased the Marabella property for $1.6 million.
Maharaj-Abu Bakr purchased the land at Dibe Road, Long Circular, along with a building housing six apartments located on the property for $1.3 million.
Ayinde Abu Bakr bought an undivided half-share of property and building at #10 Park Avenue Queen's Park East, Port of Spain, for $1.1 million.
A man named Narine, who refused to give his first name, bought two properties at yesterday's auction. These included a parcel of land at Lot 5 in Guayaguayare, Mayaro, for $72,000, in addition to land and a house at "Zorro" Las Cuevas for $380,000.
A man named Nagassar, who also refused to give his first name, bought four parcels of land at Rivulet Road, Indian Trail, Couva, for a total of $760,000.
Successful bidders were required to make a ten per cent deposit of their bid yesterday. The balance is expected to be paid in 30 days.
The auction lasted just under four hours and ended at 1.48 p.m.
Abu Bakr remained mum when contacted by the Express yesterday for comment on the auction.
"No comment," Abu Bakr said.
Contacted an hour after the auction, Attorney General Anand Ramlogan, who ordered the auction on the State's behalf, said he was not in a position to comment on the proceedings, as he was not present. He said, however, that he had staff at the event who were to present a report to him. He said then that he would be in a position to comment after reading the report, but attempts to reach him last evening were unsuccessful as calls to his cell phone went unanswered and he did not return calls or text messages sent to him.
BACK TO BAKRS: The property at Dibe Road, Long Circular, which was repurchased by Yasin Abu Bakr's family. —Photo: STEPHEN DOOBAY