CASTRIES, St. Lucia, CMC - A meeting which was supposed to end several weeks of confusion in the local banana industry was marred by chaos Sunday after shareholders of the St. Lucia Banana Corporation (SLBC) threatened to physically attack the company's chairman Eustace Monrose.

Monrose had to be escorted out of the conference room at a north east Castries location by armed police officers who were summoned to the scene of the compulsory shareholders meeting of the corporation.

The disgruntled SLBC shareholders dissolved the company's board and installed their own directors, but the authority of the new board remains in question.

Hundreds of bananas farmers filled the auditorium while just as many waited outside. There were frequent sporadic outbursts from shareholders on both sides of the venue calling on Monrose to move a motion for the dissolution of the board.

The chairman’s pleas for silence and calm for the meeting to proceed fell on deaf ears. About 90 minutes into the meeting the SLBC chairman attempted to leave but was prevented from doing so by farmers standing outside.

They were adamant that he would not be allowed to walk away before the board was dissolved or he had resigned.

However, a squad of heavily armed police officers arrived on the scene, entered the conference room and escorted Monrose into a waiting vehicle.

The meeting continued in his absence with the shareholders tabling a motion allowing Monrose's rival, Elijah Amorsingh, to chair the proceedings. He later reported to the media that members voted unanimously for the board to be dissolved, after which an interim board was elected.

However, sources close to the Monrose faction said that the legality of the move would be challenged.

For several weeks a group of farmers, led by Amorsingh, has been agitating for Monrose to be replaced as chairman of the SLBC, expressing concern about his stewardship of the entity's finances.

According to Amorsingh, some EC$3 million (US$1.1 million) in farmers' earnings are unaccounted for and the board has been unable to provide satisfactory answers.

However, the SLBC has responded by saying that all of its financial dealings are above board.

CMC/es/vd/dmb/08