Prosser hit with major legal losses in U.S. courts

It was not-so-long-ago the hottest story in town… but things have been quiet on the Miami legal front while Judge Ursula Ungaro-Benages reconsiders her contempt ruling, and other matters in the wrangling over B.T.L.’s ownership which remain on appeal. The news that has come in tonight, however, involves Jeffrey Prosser and some legal problems unrelated to his quagmire in Belize. On January ninth, a state court in Delaware ruled against Prosser in two shareholder litigation cases… and the Virgin Islands-based magnate was stung badly in both: in the first instance for twenty-eight point five million U.S. dollars and the second for over fifty-six million. When you add six point two-seven percent interest compounded monthly from October of 1998, the judgement totals around one hundred and thirty million greenbacks. Of course Prosser is no stranger to major lawsuits and this one, like others, will be appealed. Win or lose in the next round, what the latest Prosser verdict does is make it even less likely that he will ever muster the financial muscle to make another foray into the Belizean Telecommunications scene. The need for cash could also prod him into selling his current minority stake in B.T.L.