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At his side was the Deputy CEO Franzine Waight who decided to stay on and Major Lloyd Jones, a former Ports Commissioner who has been brought in as a Technical Advisor to the receivership. He is not the Operations Officer as we had been told earlier. Vasquez told the press that the transition has been, in a word, perfect:

Marion Ali, Love News
"This is day one for you. How have the workers received you?"

Arturo Tux Vasquez
"Perfectly, as you can see the deputy CEO is here, she is in her post and she is doing what she has to do. She signed cheques today, she may have to sign some more until we have the transition over. I am trying my best not to have any disruption to what was here before."

Jules Vasquez
"Is this a legal occupation? And if so what law underpins it? What legal document underpins it?"

Arturo Tux Vasquez
"I won't sit here and be an attorney because I am not. I am appointed on an instrument whereby it defers to two debentures that were signed. The debentures - from what I understand - allows the lender to install a receiver. Legally, I really can't take it any further than that. I am acting on this instruction given to me by our legal advice. Now if that position may or may not be correct, whatever it is I will also have to respect that. In regards to the police, the police have been here all the time and they made it very clear to all parties that they are only here for a national interest and to make sure that there is no disruption in the service."

Marion Ali
"The police will remain for how long?"

Arturo Tux Vasquez
"The police is here mainly because it's a national interest. It's a port and they are here to make sure that the disruption does not happen and if there is any confrontation the law is present and I think that is very important. They are not here to protect anybody as such; they are here to make sure the national port of this country does not fall out of whack. The senior management that are in there with respective positions continue to do their jobs. I have not taken responsibility of anybody's position. Accountants still deal with the banks, the deputy CEO still deals with the operations, the operations manager is still dealing with the warehouses and they in turn have spoken to their staff. I really have not have any response. Even the office assistance that we have gotten - to be honest I don't see any concerns at all from the staff and again we are trying to work in a way that I have put a line and stop anything at all. Everything is proceeding but of course once I have the commitment of the management which they have given to me there is no need to fear anybody. They don't need to fear me making any drastic changes as well as I have no fear to think that there is anybody in there who are not loyal to the operation of the Port, not necessarily to me but the operation of the Port."

Jules Vasquez
"Will Mr. Luke Espat be allowed on to this compound again?"

Arturo Tux Vasquez
"The officer in charge is here right now in this room and I have to say to you that the majority of the discussion that happened between Mr. Espat was not with me but it was with the police. Mr. Espat was not prepared to speak to me. I think he was merely giving instructions to Mr. Guerrero who was in the room. He never had any discussions with me. But I believe that at some point the officer in charge was the one who actually spoke to him and gave him the directives of how the police will handle the situation from here on. I am not in a liberty to answer to him."

Jules Vasquez
"But will he be allowed on the compound again?"

Arturo Tux Vasquez
"I understand from the police that depending on his approach he may or may not be allowed on. But the approach he had this morning I would think that the police would have to be certain that that may not be the best approach."

Jules Vasquez
"Mr. Espat has said that as soon as the police have gone he will return and retake his Port."

Arturo Tux Vasquez
"I heard him saying that on the radio yes. I won't tell you what he said in this room but I heard that on the radio."

Jules Vasquez
"So then do you all consider that as is?"

Arturo Tux Vasquez
"I said that earlier, if the legal position would change from what I am here for."

Jules Vasquez
"Assuming it won't. Contingent upon a change, he is saying that it was stolen. When the police are removed he will vindicate his right not in court but by re-taking possession of what is his."

Arturo Tux Vasquez
"What I overheard the police respond that to him was that the police right now is respecting this instrument which is one of the legal instruments that we are acting on right now. The police will remain, I guess from his comments to the police; the police have to decide for how long they will be here."

Jules Vasquez
"How long is this transitional state? What comes next? Will it remain in receivership in perpetuity? It's our sovereign national port. It's important."

Arturo Tux Vasquez
"It's a little early to say but its only my first day and I think the main thing that we need to look at right now is to make an assessment of the assets, liabilities, all the operations of the company and perhaps advise the bank as to where we believe the finances of the Port stands at the moment and as we proceed we may also think about bringing in foreign assistance to give us good evaluation; port experts. I am not a port expert as such; I am more of management and finances. We need to access the assets of this company to come up with a better idea of what we really have here. What are the values? What we own? What we owe and to be in a better position to say what is the next step."

Jules Vasquez
"We know that sometimes when companies are in receivership the next step is liquidation."

Arturo Tux Vasquez
"I this case I don't think that that is an option at all. This is a national port, so that's not what we are looking at all right now."

Jules Vasquez
"So it has to be maintain as a going concern?"

Arturo Tux Vasquez
"That is exactly what we are doing."

Superintendent Grinage told the media that the police will stay as long as there is a threat to the stability of the Port. The Port CEO representing the Luke Espat Group, Rainaldo Guerrero Senior is no longer in office. He had been there this morning, but as we understand it, he was relieved of his post and left with attorney Vanessa Retriege this afternoon.

We note also that tomorrow the waterfront workers will be having a meeting to further discuss their position.