Supreme Court grants injunction on B.T.L. share sale

The sale of government’s shares in B.T.L. to Michael Ashcroft may have to wait a few more days as today the Chief Justice granted an injunction applied for by the B.T.L. Workers Trust which prevents the sale of any shares until the court decides the merits of the substantive case, which begins on Tuesday. That case will decide the precise nature of a “permitted person” under B.T.L.’s articles of association. That definition is crucial as only permitted persons are allowed to own over twenty-five percent of the company’s shares. Attorney Michael Peyrefitte represented the workers, while Michael Young and Solicitor General Elson Kaseke represented B.T.L. and the Government of Belize respectively.