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BIR Reminds Businesses of Postal Excise Taxes

         The Virgin Islands Bureau of Internal Revenue reminds the business community that items imported into the territory via the United…

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The V.I. Police Department has a theme song, "Don't Run, Don't Hide," written by local musicians Fusion Band for use in the government television channel documentary, "V.I. Cops."

 
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June’s Views … From The Farm

Lots and lots of rain is not necessarily the best thing for growing; too much of it can bring a proliferation of weeds and vines, root rot, destructive bugs and more.

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2012-01-30 00:33:29
St. Thomas Man Charged with Phone Threats

A St. Thomas man employed by Boynes Trucking, Inc. was arrested Friday by the FBI for allegedly sending threatening text messages to the owner of the company.

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2012-01-27 23:53:58
Sea Serves as Classroom for Gladys Abraham Swimming Students

Sixth graders learn water safety and basic swimming in the Caribbean.

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2012-01-26 18:43:42
Local news — St. Thomas
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Professional Fees Top $35 Million in One Part of Prosser Case Alone

Professional fees for one segment of the Prosser bankruptcy case have exceeded $35 million, and U.S. Bankruptcy Court Judge Judith Fitzgerald has started the process of appointing a fee auditor to help her manage costs.
It will be a complex business. Fitzgerald issued an order on March 9 indicating the need for such an individual; she invited the various participants to nominate candidates for the position.

The names will then go to the U.S. Trustee, an arm of the U.S. Justice Department, which will screen and evaluate the names submitted. After receiving the trustee's report, Fitzgerald will then make an appointment.
Fitzgerald will not, however, know which of the parties have nominated the candidates for the position.
The fees concerned are those paid to and through the managers of the bankrupt estates, one involving Prosser's former corporate interests, and the other his private interests.

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Legal fees paid by Prosser himself, and other members of his family, are not included in the $35 million (and have not been recorded in any court documents viewed by the Source). The $35 million also does not include the extensive fees paid by Prosser's creditors to their own lawyers.
The fees charged by the professionals working on Prosser's personal holdings are $2.84 million, while those for his one-time corporate holdings come to $32.8 million.
The Rural Telephone Financial Cooperative, the specialized, nonprofit bank in Virginia that lent Prosser and his corporations well over half a billion dollars, have, from time to time, advanced funds for the payment of some of these professional bills.

Other bills have been paid out of the proceeds of the sales of various properties once owned by Prosser and his corporations, and still others out of the ongoing profits of those entities.

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