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Jan 24, 2006

Unconfirmed reports: Prosser will lose B.T.L. shares to bank

Story PictureTwo weeks ago we reported on Jeffrey Prosser’s troubles in a Delaware courtroom; tonight it appears that he’s about to lose one of his major assets to the bank. Reports out of Port of Spain indicate that the U.S. Virgin Islands based communications mogul has failed to repay his loan to the Trinidadian bank R.B.T.T. that was used to purchase a thirty percent stake in Belize Telecommunications Limited. The shares were pledged as collateral for the thirty million U.S. dollar loan and it appears that R.B.T.T. will now exercise its right to take them over. We were unable to confirm the situation with the bank, but it would appear that the way is now clear for R.B.T.T. to dispose of the B.T.L. shares, presumably to the company’s largest shareholder, Michael Ashcroft.

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