Beharry Group puts empire into GBTI’s hands in new loan agreement
August 10, 2025
Beharry Restaurant Holdings Inc. has handed over a huge part of its real estate, expensive machinery, and other assets to the Guyana Bank for Trade and Industry Limited (GBTI).
This was done under what is referred to as First Debenture agreement, or type of loan arrangement, which gives GBTI first priority over these assets.
The agreement, signed by Director Suresh E. Beharry and Secretary Paul E. Cheong, also blocks the company from creating any other mortgage or charge on these assets without GBTI’s written approval.
In effect, Beharry Restaurant Holdings has also given up control of its business’ assets to its lender, published in the Official Gazette on August 9, 2025.
As such, if the company runs into financial trouble, GBTI can seize and sell these assets before any other creditor can claim them.
The pledged properties include a prime site in Vreed-en-Hoop, West Bank Demerara, with all existing buildings and rights to build more.
Also pledged is a Kitty, Bel Air plot, another property along Vlissengen Road, land at Plantation Hydroni/Idroni on the East Bank Essequibo, and part of a Lot on the Soesdyke, East Bank Demerara, along with access rights.
The loan arrangement also covers all the company’s plant, machinery, vehicles, tools, computers, office equipment—present and future—as well as all shares, bonds, securities, patents, trademarks, trade names, copyrights, goodwill, insurance proceeds, and almost any financial or property rights linked to the company.
Any future assets, whether physical or intellectual, will also automatically fall under GBTI’s control until the debt is cleared. The Gazette does not however, state the size of the financing, but the scale of assets suggests it could be worth hundreds of millions, possibly billions, of Guyana dollars.
By law, the debenture becomes effective seven days after publication, locking in GBTI’s top-priority claim over Beharry Restaurant Holdings’ corporate interests.
