Government says it won’t pay Telemedia the $38.5 million in damages awarded
by the London Court of International Arbitration – and now the Telecoms
company says that by doing that, Government is depriving Belizean charities
of funds. In an interesting manoeuvre, Telemedia today announced that it has
assigned a subsidiary called Belize Social Development Limited to distribute
that $38.5 million award amongst its shareholders.
That means that the Hayward Charitable Trust would get almost three quarters,
exactly $26.5 million of that $38.5 million and according to a release from
Telemedia would then distribute that, quote “solely to registered
charities in Belize.” And to take it one step further and put pressure
on government, Hayward is asking all charities to send in their requests for
donation to the Trust.
Nothing was publicly known of Hayward - which holds controlling interests in
BTL until three months ago when it was announced that the Trust was buying into
the Superbond.
Email
Print