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Jun 8, 2017

US $95 Million More for Dunkeld? G.O.B. Says No Way

There is another round of costly litigation coming our way, and once again it has to do with Belize Telemedia Limited.  The Government of Belize paid half of the settlement figure last year, although it was delayed due to miscalculation over the value of the currency in which it was paid – U.S. dollars versus Belize dollars. Now, the Government plans to fight the final figure for legal costs arising of the settlement of the takeover of B.T.L. in 2009 and again in 2011. The final figure came in at just under one hundred million dollars, thirty-million less than first reported. These costs were to be claimed against the amount assigned to the Accommodation Agreement, about sixty percent of the half-a-billion dollar settlement. The remainder, in Belize dollars, was to be dedicated to funding projects to help the Belizean people. But the matter will wind up in court again, says Financial Secretary Joseph Waight.

 

Joseph Waight

Joseph Waight, Financial Secretary

“The settlement agreement allowed for, provided for, the claimants—Dunkeld and the Employees Trust—it allowed for them to claim for their funding cost, their legal costs, out of the portion that  would have been set aside for payment in Belize dollars and those Belize dollars would go to funding of charitable projects. So therefore in the settlement agreement it does allow for reasonable cost. They would then get their cost subtracted out of that amount and then the difference, the reduced amount, would have gone to—paid in Belize dollars—to be for charitable projects. They have made a claim that all that amount equals almost the entire amount.”

 

Reporter

“Not all man, [but] ninety-five percent…”

 

Joseph Waight

“…ninety-five percent.”

 

Reporter

“How much is the global figure between the Employees Trust and Dunkeld?”

 

Joseph Waight

“The claim for their cost is about ninety-five million U.S. dollars, leaving about five million dollars or so left for the projects. We are going to challenge.”

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1 Response for “US $95 Million More for Dunkeld? G.O.B. Says No Way”

  1. Eye in the Sky says:

    Barrow is learning do not F with a billionaire.

    Because you will ALLWAYS LOSE.

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