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Sep 15, 2015

P.M. Says He Won’t Honor Accommodation Agreement

Dean Barrow

The issue of the accommodation agreement between signed between government and the previous owners of the B.T.L. has been the elephant in the room. So how does it factor in the settlement reached a few days? The PM says that he won’t honor.

 

Reporter

“Do you regret the emotive language that you used upon the acquisition, upon the takeover?  You referred to the accommodation agreement which now you may have to live with as treasonous regarding the award from LCIA, you said, “As God is my witness I will never pay that.”  And, in fact, you may have to…”

 

Prime Minister Dean Barrow

“No sir, no sir.  The award, remember, let’s be clear, there is already an award for breach of the accommodation agreement.  I refuse to honor the accommodation agreement.  Even before we nationalized the company they went to arbitration because the compensation arbitration proceeding is under the bilateral investment treaty.  They went to arbitration over the accommodation agreement award because that was what the accommodation agreement award done in secret provided for and they got a judgment.  That was when I had said I am not even going to participate in the accommodation award arbitration proceedings because I consider that award illegal.  They got their…I consider the agreement illegal.  They got their award and I have not paid it and I am telling you that that’s one of the things that must and will remain outstanding because I am not going to pay it.”

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