7 News Belize

Can’t Trust It!
posted (October 13, 2017)
On Wednesday, we told you about the ongoing fight for control of millions of dollars of back pay for teachers and public officers. On one side are the representatives of 600 retired public officers. Back in 1995, then Prime Minister Esquivel gave them four hundred and fifty thousand (450,000) BTL shares to ease the pain of a wage freeze.

On the other side is the Public Sector Workers Trust - which was set up by the BNTU and the PSU to manage the proceeds of those BTL shares 20 years later.

Those retired public officers now have a Supreme Court judgement which says the trust is invalid. Now, they are trying get the Trust to give up control of the 7.8 million dollars in value which those BTL shares have yielded. But, it's not proving easy, because it's a pot of gold, and no one who's sitting on it, will give up without a fight.

And that's probably why, the Public Sector Workers Trust, which is on the defensive, sent us a letter taking issue with several aspects of our story on Wednesday.

First, they say that the Esquivel administration gave the shares "IN ADDITION TO salary increases, not INSTEAD of those increases.

Second, they say they have no obligation to recover any of the money they've used, contrary to what we reported. This, in spite of the fact that the judgment plainly states, quote, "The Unions….should be ordered to recover any monies or funds invested."

The letter from the Trust does acknowledge that they are still continuing their loans program. That's a major bone of contention between the Unions and the retired public officers.

The retired public officers say that the trust is ignoring the judgment by offering loans to current public officers who should not be beneficiaries. They insist that this continuation of this loans program directly contradicts to the court's order. Here's how the judge put it: "GOB (intended) to benefit only the public servants affected by the increment freeze."

Well, the Trust says that they' don't agree, not according to their legal interpretation of the court's order.

They say that Justice Courtney Abel gave a verbal instruction that the "status quo" continues until a revised Trust Deed is drafted. They interpret "status quo" to mean continuing of operations, especially their loan scheme.

Home | Archives | Downloads/Podcasts | Advertise | Contact Us

7 News Belize