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Jul 5, 2011

Belize Telemedia Employees Trust will fight for ownership of company

We told you earlier that the reacquisition of Telemedia on Monday would trigger more litigation. Well true to form, according to the Belize Telemedia Employees Trust, it will continue to fight for ownership of the company. In a release today, the Trust, which has twenty-three percent of the issued share capital in B.T.L., said that the amended law is still unsatisfactory and it doesn’t justify a legitimate public purpose for the 2009 takeover. The legal team representing the Trust is confident that the Caribbean Court of Justice will uphold the recent ruling of the Court of Appeal, which deemed the initial nationalization as unconstitutional, null and void. And there will be plenty more litigation since the Trusts says it will be suing for damages, costs and the loss of dividends since the 2009 nationalization. The release also states that “Given that there was no mention of utilities nationalization in the U.D.P. manifesto prior to his election, Prime Minister Dean Barrow’s claim to have the people’s backing for his plans would appear delusory, in any event.”

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1 Response for “Belize Telemedia Employees Trust will fight for ownership of company”

  1. rod says:

    this incompetent and useless pm is now proceding to destroy the rest of the country with his stupidity get out barrow guan guan please resign worse pm in the history of belize when unu wa get enough cruffy get this idiot out a office send him packing in a i pyjamas.

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