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Aug 30, 2005

Prosser says G.O.B. actions illegal, unconstitutional

To the surprise of absolutely no one, Jeffrey Prosser and his various business entities have loudly condemned the action of the Belize Government and Michael Ashcroft for their takeover of the B.T.L. board of directors. In an email today, Prosser P.R. chief Rene Henry asserted that Ashcroft and G.O.B. are “now openly in contempt and defiance of the Belize Court of Appeal” and that Monday’s board meeting–at which the two Prosser directors were expelled–was illegal and all decisions made are null and void. The only alternative, according to Henry, is to seek judicial sanctions.

Regarding the actions taken by Utilities Minister Ralph Fonseca under recently passed legislation, the spokesman says the taking back of the special share was an unconstitutional deprivation of property, which will also be contested in court. In addition to the special share, Prosser also owns approximately thirty percent of B.T.L.’s shares as well as the assets of the defunct telecom INTELCO, for which he paid around twenty-seven million U.S. dollars. All of those assets have been mortgaged to the Trinidadian Bank, R.B.T.T.

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