Emile Mena, a member of the Mena family which owns the Wood Depot, informed Amandala today that the Wood Depot enterprise, which was put under receivership by First Caribbean International Bank back in 2010, at the same time that the bank took control of another family business, Fresh Catch Belize Limited, has been returned to the Menas.

The family formed a new company, Wood Stop Limited, in order to execute the move.

A notice published by the Mena Group said, “An agreement between the parties means that the Mena family will resume their leadership position in the lumber business using a new company called Wood Stop Limited. The final steps in the agreement were approved by the Supreme Court this morning, May 7, 2012, which means that the receivership has ended.”

Mena explained that the Wood Depot was a guarantor for the debt of Fresh Catch, which remains under receivership.

The Menas formed Nature Fresh Belize Limited in May 2011, through which it has been trying to regain control of Fresh Catch, but they have been unable to get the $15 million in financing needed.

“We are still working on that,” said Mena.

Meanwhile, he said, the Mena family resumes control of the Wood Depot tomorrow, Tuesday.

“We are very happy that we managed to do that,” said Mena.

He told us that the receivership had kept most of the staff, and they plan to do the same.

“It should be a smooth transition,” he added.