Belize - Belize News - Channel5Belize.com - Great Belize Productions - Belize Breaking News
Home » Featured, Miscellaneous, People & Places » Telemedia case will go as far as Caribbean Court of Justice
Feb 10, 2011

Telemedia case will go as far as Caribbean Court of Justice

The nationalization of Telemedia in August 2009 has sparked debate in local and international quarters.  How safe is the investment climate for foreign investors? That’s a question asked by serious and potential investors in the Jewel. Well, the P.M. said on Wednesday that he expects that there will be more rounds of litigation that will take the case to the Caribbean Court of Justice. An appeal challenging the constitutionality of the nationalization has been heard but a decision is pending. But according to the P.M., South American investors from Argentina have expressed interest in the Telecom Company.

Dean Barrow

“You can have some sort of a sense of the way a case is going based on the back and forth between bench and bar, but you can’t put it any higher than that, we simply have to wait and see what the decision of the Court of Appeal will be. I will point out that either way it goes, it is not going to stop there it is going to go the C.C.J. If the Ashcroft cohorts lose, they will appeal to the C.C.J., if the government and people of Belize lose, we will appeal to the C.C.J.; so it doesn’t stop there. We have won round one in the Supreme Court. Assuming—I don’t know that this is so at all—but in terms of preparing for all possibilities, assuming Ashcroft wins round two, then we go to the third and deciding round at the C.C.J.”

Jules Vasquez, Channel 7

“But is there any risk of instantaneous reversion type event and reversal if the court says it was improperly acquired and instamatically it has to revert?”

Dean Barrow

Dean Barrow

“Again you are asking a question that I can’t answer except to say anything is possible. My best guess as a lawyer—well let me not guess—certainly it is perfectly possible for the Court to find that the taking was not altogether on all fours with the constitution and still not give back the company. Case in point, this I believe was judicial review. Remember when Conteh found that some contract given to Print Belize was entirely illegal, he also said but I can do nothing because this is two years on. And to reverse that contract would lead to a chaotic situation, would lead to a complete lack of certainty and would be bad for in their interest of administration. So it is perfectly possible that the court could find that the taking was flawed and still not give it back, but I suppose it’s also possible that they can find the court was flawed and give it back. At that stage, because we’re appealing to the C.C.J., we would ask for a stay and we just have to see how it goes.”

Jules Vasquez, Channel 7

“And then the public’s subscription to shares.”

Dean Barrow

“Well the public had bought about five million dollars worth of shares. We extended it and I think that extension for a month is now over and I haven’t checked how much more came in.  And in terms of the strategic investor, we had a visit from the Taiwanese, a delegation. I have not heard anything since they went back. Most latterly, we had a visit from a group of investors out of Argentina. They have indicated they are likely to make a firm proposal and be ready to sign a letter of intent by, I believe, the end of this month or it might be a little before that.”

Be Sociable, Share!


Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

Advertise Here

3 Responses for “Telemedia case will go as far as Caribbean Court of Justice”

  1. Skywalker says:

    This litigation is ending up costing MORE than the initial court order.

  2. REGGIE says:

    THIS GLORY TRAIN WITH BTL IS COMING TO AN END,HIS SON LEFT SOON HIS WIFE AND EVERYTHING WILL CRASH AND THE POOR PEOPLE MONEY WILL GO DOWN THE DRAIN.AND HOW COULD HE SAY THE PEOPLE OF BELIZE INVEST WHEN HE AND HIS CREW TOOK THE MONEY ON THEIR OWN.SMART MAN BUT STUPID.

  3. Earl Grey says:

    AND…………….WHAT DIVIDENDS HAVE THE BELIZEAN SHARE-HOLDERS SEEN SO FAR??????

    AS THE BARROW FAMILY and CRONIES MILK B.T.L ………DRY???

Leave a Reply

CAPTCHA Image
*