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Apr 8, 2009

Government granted injunction against Telemedia

A release late this evening from G.O.B. says that Acting Chief Justice Samuel Awich has granted an interim ex parte injunction against Belize Telemedia Ltd and Belize Social Development Limited. According to the Government the injunction restrains them from enforcing the Final Award issued on March 2009 by the London Court of International Arbitration awarding Telemedia thirty eight point five million dollars in damages in respect of breaches by the Government to the 2005 Accommodation Agreement between G.O.B. and the telephone company. The ex parte injunction was granted earlier today and attorneys for Telemedia and the Belize Social Development were not invited to the hearing in Court. The big question that now arises is whether the Government’s injunction is already too late, since the debt owed by G.O.B. under the Final Award has already been assigned to Belize Social Development which News 5 understands is no longer associated with Belize Telemedia and is in fact a foreign corporation now owned by more than nine hundred shareholders.


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