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Aug 31, 2009

Lawyers write Net Vasquez over allegations

Story PictureA week ago, the Barrow administration compulsorily took over Belize Telemedia, the largest utility company in the Jewel. Since then, numerous deceptive statements have been coming out of the new board of directors headed by Nestor Vasquez. Vasquez is in control of the day to day operations of Telemedia along with Anwar Barrow, the son of the Prime Minister. Vasquez has been making duplicitous statements, in particular, to his own station, that there is a debt owing to Telemedia arising from the acquisition of the Coney Drive property, the former N.D.F.B. building. The law firm Courtenay Coye and Company, attorneys for G.B.P.L./Channel Five, today wrote to Vasquez to cease making allegations that imply that quote “something is untoward in a perfectly legitimate transaction.” The letter to Vasquez is explicit and the facts are that on October seventh, 2008, a land certificate for the property was issued to G.B.P.L., that Telemedia provided the funds to purchase the property on behalf of its subsidiary by way of Katalyst Developments Limited. Vasquez is also told that on August twenty-third, Telemedia acquired forty-seven thousand, six hundred and eighteen new ordinary shares in Katalyst and that the Board of the company authorized the payment of a dividend to shareholders which was in excess of eight million dollars representing the value of G.B.PL. and the property. Straight as that, and this morning our breakfast show, Open Your Eyes, was broadcast live from our new headquarters on Coney Drive. It is all part of the future development of this station.

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