By K. NANCOO-RUSSELL

Freeport News Reporter

krystal@nasguard.com

After a Supreme Court ruling gave him the freedom to participate in the management of the Grand Bahama Port Authority (GBPA) and the Port Group Limited (PGL), Hannes Babak says he now looks forward to working with the recently appointed chairpersons and other directors in furthering the progress of the companies and the growth and development of the city of Freeport.

In an exclusive interview with The Freeport News via telephone from Austria yesterday, Babak cleared the air on a number of issues surrounding his removal and reinstatement and confirmed that he is serving in the capacity of a director of both the GBPA and PGL.

Babak said after the two injunctions against him were discharged in a November 12 judgment by Supreme Court Justice K. Neville Adderley, he took a few days to reacclimate himself to what had been taking place at the company before returning to work.

"I immediately wrote to the directors to please fill me in on what happened in the meantime, to tell me anything about ongoing projects and about decisions that were taken in board meetings," Babak said. "So I took a few days to familiarize myself with the situation and... took office on Monday (November 24)."

Babak is presently in Vienna, Austria, for several meetings with business persons there concerning possible investments within the city of Freeport.

When questioned about whether or not he would be reappointed to the position of chairman, he said that is not a decision for him to make.

"That is a decision that lies with my employer, IDC and the shareholders of the Port companies, and also my fellow directors," Babak said.

He commended the initiative taken by his fellow board members to appoint new chairpersons for the companies once the receivers were removed, describing it as "absolutely necessary and in the best interest of the company."

Babak acknowledged that the entire issue concerning the ownership and management of the GBPA has received a lot of attention from the media and the general public, but said the focus should now be shifted to the future.

"I am confident that all parties will work together to reach a compromise that best serves the interest of our island," he said.

"So it's not so much what position or title everybody wants to have. The key thing is we are not in the greatest economic times right now, and not just in Freeport but all over the world, so I think we should stop fighting about titles and functions. We should just put our heads together and pull Freeport forward."

Regardless of what takes place in the struggle for ownership of the companies, Babak said he is prepared to do whatever he can in his capacity to ensure that the city of Freeport is reinvigorated.

"My contract, my employment and my duty lies with the companies and not with any ownership... Yes the times were unfortunate and the receivership and everything, but it's the past," he said.

"I think we have to now look in the future and that's why I went immediately, after I consulted with my fellow directors, to Europe to have meetings with companies, and the objective is to create new business in Freeport... It's no sense talking about the past, we should live for the future. At least I do and I think most of the people in Freeport do."

Pointing out that the court battle and subsequent appointment of receivers has in many ways hindered further growth for the city of Freeport and by extension the island of Grand Bahama, Babak said an example of that was the delay in securing the agreement with Ross University.

The establishment of a Ross University campus was an initiative started under Babak's leadership as the GBPA chairman and was only completed after the receivership period was over and the new chairpersons had been appointed.

"The university is a fantastic business for Freeport, because people now will need more education than ever before. When you look at the stock market in the States, that is one of the shares that goes up — educational companies — because a lot of people will have to change jobs and will need additional education and to retrain," he said.

Pointing out that the role of the receivers was merely to sustain business as it were, Babak said his inability to work with the GBPA during that time prevented him from working to secure other business opportunities for the city. Now is the time, he added, for those opportunities to be explored.

"There's enough business that is independent of and not affected by the economic crisis we have right now ... There are several other industries that will fit very well in Freeport. We have a great potential and we just have to work now," Babak said.