Telemedia management sent bulleting questioning validity of trust

godfrey smith

Smith further told News Five that the Telemedia management sent out a seven point bulletin to its employees questioning the validity of the trust despite the recent court ruling, which proves the legitimacy of the trust.

Godfrey Smith

“Even though three people came, as I understand it, there were union representatives there representing the majority of the employees of Telemedia. Not all employees are union members. My understanding is that the majority of them are. The union representatives were led by Paul Perriott who has had experience dating  back to 2005 with the involvement of the trust and the negotiations building up to it.  Our message was simple; the trust exists and one of two things can happen.  Under the trust the beneficiaries are entitled through a company called Sunshine to twenty-three percent of Telemedia. That is of importance to the employees whether they want to participate or not because one: if the case is won the shares have to go back to where it came from and that means the employees will be entitled to their twenty-three percent.  We are confident that ultimately the case will be won.”

“The trust requires that the trustees, one of whom is Dean Boyce and the other of whom is Mr. Keith Arnold, that they embark on a process of getting employee representatives meaning the employees get together and they nominate certain representatives who will then engage in a discussion with the trustees to determine how the money is to be administered. For instance there are many, many questions to be answered.  As far as I’m aware and this is not a legal matter, this is more a financial matter for those experienced in the financial administration of the trust. But I will say this; from the beginning of—from when the trust was created in 2005 whoever were employees then into the future will be entitled whether you’re there now or you were fired at some point in between.  But many questions have to be answered.  How much will be paid out upfront?  Will there be some other fund set up for those other employees into the future?  How much percentage will be paid out right away?  Will monies be set aside for education, health?  Will it be based on seniority?  Are all members or employees entitled equally or is it based on length of years? Will it be based on seniority and all of those questions need to be answered.”

Among those in attendance was Paul Perriott who represents the Belize Communications Workers Union.