Posted: Saturday, November 24, 2018. 8:45 pm CST.
By BBN Staff: At yesterday’s Sitting of the House of Representatives, the government introduced a motion to settle a lawsuit for $5 million brought against GOB more than a decade ago by Glen Godfrey through one of his companies, GDG, which had leased telephone equipment to the now defunct Intelco. GDG had initially sought $30 million in damages, however, GOB had won the first round of litigation. GDG then filed a successful appeal and the matter was even taken up in US court. After a review by GOB attorneys, the Prime Minister was advised that the matter be settled and on November 15, GDG and the government entered into a conditional settlement agreement.Following the House meeting, Barrow told the media that the agreement, which was signed by the former People’s United Party (PUP) administration and in particular, Ralph Fonseca, was “outrageously” one-sided. He added, however, that GOB was unable to escape from having to pay to settle the matter because the government was bound by the terms of the agreement.”Intelco was relieved, was excused from any obligations whatsoever under the lease, any obligation of the sort that is not just expected as usual but obligatory with respect to commercial understandings. If the courts enforced the master lease, the damages award would have been large, up possibly to the extent to thirty million US dollars. In these circumstances we recommend a settlement. That is what brought us to this pass,” Barrow said.
Аdvеrtіѕе wіth thе most visited news site in Веlіzе ~ Wе оffеr fullу сuѕtоmіzаblе аnd flехіblе dіgіtаl mаrkеtіng расkаgеѕ. Yоur соntеnt іѕ dеlіvеrеd іnѕtаntlу tо thоuѕаndѕ оf uѕеrѕ іn Веlіzе аnd аbrоаd! Соntасt uѕ аt [email protected] оr саll uѕ аt 501-601-0315.
© 2018, 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.