Belize - Belize News - - Great Belize Productions - Belize Breaking News
Home » Miscellaneous, People & Places » Attorney says selling shares to private individuals is not nationalization
Jun 29, 2011

Attorney says selling shares to private individuals is not nationalization

According to Attorney Arthur Saldivar, there appears to be another flaw in the government’s plan to re-nationalize the company. In a quick history lesson, Saldivar explains BTL’s roots as well as why taking the company, which is private property, and selling the shares to private individuals, is not nationalization.

Arthur Saldivar, Attorney

Arthur Saldivar

“We remember that in 1987, the first time that BTL came into existence; it was formerly BTA, Belize Telecommunications Association which basically was what the government bought from Cable and Wireless and changed it into a limited liability company. When it became a limited liability company it ceased to be a national entity wholly and solely in relation to its ownership. Individuals could have bought shares. Now, to nationalize it would mean taking away, erasing that ability for private individuals to have any ownership of BTL. That is not being contemplated and that is why it could not be compulsorily acquired because you cannot take a person’s property under the compulsory acquisition laws of Belize and give it to somebody else. That is not a public purpose. You cannot take a private property and give it to another private person and call it acquisition for public purpose, that’s a fraud, a fraud that was being perpetrated by the government and they are seeking to perpetrate this fraud again.”

Because of the high demand for copies of the show, we’ll have a re-run of it on Sunday morning. So if you didn’t catch it, stay tuned.

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

Advertise Here

Leave a Reply