Attorney says neither Young and Vasquez gained anything from sale of Telemedia shares

Lois Young

In the afternoon session, Dr. Lloyd Barnett, who appeared for Vasquez and Young, seemed to suggest that the transaction did not involve B.T.L. directly and that S.S.B. needed to diversify its investments. Neither Vasquez nor Young, he said, gained anything personally from the sale. But according to Tillett, that doesn’t matter. He tells us why.

Glenn Tillett, Claimant

“Essentially, if you believe that the decision to invest in B.T.L. was the right decision, it was made by the wrong people. Whether the investment is a good investment or not is actually a point. The salient point is that these decisions should not be made by people who have an interest in both the purchaser and the seller.”

Reporter

Glenn Tillett

“In the submissions this afternoon, the council for these individuals were at ease to point out that this was a government thing in the sense that it was government selling the shares to S.S.B. and that B.T.L. really didn’t have anything to do with it and so the B.T.L. leadership is not a factor.”

Glenn Tillett

“I appreciate the fact that Doctor Barnett tried this with the case, but let’s face it, B.T.L. at that point and even now is majority owned by government. You can separate them as legal entities, but in truth and in fact, one is a part of the other.”