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BREAKING: Final BTL arbitration award may be as much as US$220 million

Posted. May 10, 2016. 6:43 p.m. CST.

 

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By Aaron Humes: Reliable information to Breaking Belize News is that the arbitration tribunal deciding the value of the shares in Belize Telemedia Limited (BTL) at the time of the first nationalization by Government in 2009 has set that figure at as much as 220 million US dollars.

Official confirmation is not forthcoming at this hour but our understanding is that the decision was handed down on Monday and the first half of the payment is due within 10 days. Again, we stress that the figure is not confirmed by anyone in Government.

The figure is the second half of the compensation settlement with BTL’s former proprietor, the Aschcroft group, the first half of which was reached last September and consisted of a payout of 162.7 million Belize dollars.

We will keep following this story.

© 2016, BreakingBelizeNews.com. This article is the copyrighted property of Breaking Belize News. Written permission must be obtained before reprint in online or print media. REPRINTING CONTENT WITHOUT PERMISSION AND/OR PAYMENT IS THEFT AND PUNISHABLE BY LAW.

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