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Mar 23, 2005

Can Sunrise come up with the cash?

With Mr. Ashcroft back where he was a decade or so ago with regard to BTL ownership, there are still a few more loose ends to tie up. The first is the BTL employee group, led by Sunrise Ltd, who want to buy government’s remaining thirty-seven percent of the BTL shares plus Prosser’s thirty percent. Can they swing it? Well, saying you have the money–as we found out from Jeffrey Prosser–is not the same as actually having it. Will FirstCaribbean lend the locals the millions of U.S. dollars they need with only the shares as collateral? Or will they need a government guarantee? And if a guarantee is required, wouldn’t GOB be better off keeping the shares for taxpayers? That question will come up sooner rather than later.


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