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Jun 27, 2011

P.M. says new shareholders monies are safe in Central Bank

Dean Barrow

Today we interviewed the Prime Minister on the ongoing crisis. In respect of the shares, he confirmed that the funds are stored in a separate account in the Central Bank. If anyone would want their funds returned, they would get so with interest. But he maintains that despite that there are now two Telemedia boards in operation, the government board is actually in control of the company.

Dean Barrow

“All that government received by way of purchase monies for shares is in the Central Bank. It wasn’t a statement that Lois made—we gave an undertaking to the court that those monies would not be touched until the matter is finally determined. It’s not finally determined yet; it will go to the C.C.J. so those monies will remain in the Central Bank. If there are people who feel that this is an uncertain state of affairs and want back their money, they can get it back now together with interest. But we will suggest that the people that invested, thinking it was a good investment, should hold off a little longer because I am saying that apart from the appeal process, apart from resisting the application for enforcement—if that application is asking for restitution of the company to the successful appellants. Apart from all that, government is determined to find some legal way to fix the problem once and for all.”

Jose Sanchez

“The Boyce board and Vasquez board both giving orders to employees and the Boyce board making contacts to banks. How does the company operate with two different boards?”

Dean Barrow

“Very easily, very easily because the banks have, I believe, at least I know of three banks that have taken legal advice and have been advised that in fact it is as I say the Vasquez board, the government ownership and control continues unless the consequential order following upon the declarative judgment is made giving the company back to Boyce and company. So there is not going to be a problem at all. And I am saying apart from the banks, if there is anybody else; any supplier that deals with BTL that has any doubt at all about continuing to treat with the Vasquez board, government is prepared to offer them an indemnity. So we have no doubt that matters will continue on the basis that it is the Vasquez board as you call it, the government board; that is legally and factually in control.”

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3 Responses for “P.M. says new shareholders monies are safe in Central Bank”

  1. Rod says:

    Any one who deals with this pm is an idiot and I hope that all the foreign investment companies and banks see that they are dealing with an incompetent useless gov. And pm please resign barrow just resign your legacy is to go down in history as the worse gov. And pm in the history of belize wow you have no shame that much I give you but do the good people of this country a favor and resign you are nothing but a failure of the worse kind.you continue to take this country down in the gutter have some shame before I stone you with me shoes.

  2. Roy Yates says:

    SAFE IN THE BANK, LET HIM PROVE IT. IF IT’S POSSIBLE, GE A COURT ORDER TO MAKE HIM SHOW THAT THE MONEY IS REALLY IN THE BANK, AND NOT IN HIS PERSONAL ACCOUNT. WHO SHOULD BELIEVE THIS INSANE PERSON. A MAN WORD IS HIS BOND. HE GAVE HIS WORD AND THEN RESEND IT. HE DOES NOT FIT TO BE SEEN. HE HAS NO SHAME. IF HE DOES NOT OBEY THE COURT, WHY SHOULD HE BE RESPECTED? YOU GO AND WONDER IN THE DESERT YOU TOTALLY PATHETIC/SYHTHETIC BARROW.

  3. Kathy says:

    Dean Barrow is a liar and a master manipulator and is being allowed to do as he pleases because Belizeans are a bunch of spineless wimps. People wake up….didn’t Social Security invest in Telelmedia as well, as for the stupid @$$ belizeans in the diaspora who paid to see the PM and his entourage last year…..and listened to his empty promises of a better Belize…..you got exactly what you deserve if you bought his bs and invested in the Telemedia scam! How can you sell shares in a company that was still in litigation…..the government did not own telemedia……and now it’s clear that they will never…so forget about every seeing any money that was invested in shares…..trust and believe he and his family are laughing all the way to the bank…..a few more Saks Fifth Avenue clearance dresses in the Mrs. closet and some more knockoff bags…..just enough to keep her smiling……..Belizeans wake up and smell the coffee…..stop walking around like zombies…….

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