Prosser directors out according to C.J. judgment
There were two major developments in the B.T.L. case today. First, Chief Justice Abdulai Conteh gave a judgment regarding the composition of the B.T.L. Board, and then Belize’s lawyers in Miami filed a motion to try and stop the judge there from finding Belize in contempt and imposing sanctions. After considerable examination of the B.T.L. Articles of Association, Justice Conteh determined that while Jeffrey Prosser’s I.C.C./Belize Telecom is entitled to its two directors by virtue of its possession of the Special Share, because he no longer holds thirty-seven point five percent of the C-shares, he is not entitled to appoint two other directors. What this also means is that Prosser is no longer entitled to be Chairman and that it falls back on G.O.B. and E-Com to make that appointment. Of course, while this determination is favourable to G.O.B. and Ashcroft’s E-Com, as the Attorney General Francis Fonseca is well aware, due to the issue of jurisdiction being signed away when a deal was being inked with Jeffrey Prosser, things are a bit more complicated, and the situation has not yet been resolved.
Francis Fonseca, Attorney General
?I think as a principle and as a practice, that it is generally not obviously a good idea to cede jurisdiction. But these are decisions that are taken from time to time and it?s easy for us to say ?what if? or ?why?. Our job is really to deal with the issues that we are faced with today and try to find the best way of settling these matters.?
?The Government of Belize?s position is that, yes the I.C.C./Belize Telecom has two directors as a result of the Special Share, but he no longer holds thirty-seven point five percent of the C-shares in the company. And when that threshold of thirty-seven point five percent falls away, our position is that so too do those directorships, those C-directors. So those directorships are vacated once that threshold no longer exists. And that is the fundamental question we are faced with and really the last remaining issue before the courts in Florida.?
