Between big money lawsuits and debt defaults, he's been taking a public relations pounding, and BTL owner Jeffrey Prosser is coming into town tomorrow to defend his name, and convince Belizeans he's still the telecommunications savior government held him up to be one year ago.
But looking good has become increasingly difficult for Prosser who's done bad business with the GOB. On Friday in the National Assembly, the Prime Minister confirmed that the clock is ticking and Prosser's time in Belize could be winding down. The Prime Minister disclosed that since he defaulted on his debt to the International Bank of Miami on February 22nd and government had to step in to re-finance the debt, Prosser has been given 75 days to come up with the money. That will leave us at Friday February 4th, 2005. If Prosser does not come through by then, Musa told the National Assembly, that government will be free to do with the shares as it pleases.
But new information in to 7NEWS today indicates that government doesn't have to wait the 75 days. Right now, government may be free to do with the shares as it pleases. How's that? Well 7NEWS has received credible reports which suggest that the deal with Jeffrey Prosser's ICC has not been closed. Though it was to have been closed on March 22nd, that, as we understand it, was just the sales pitch. At least two and possibly three extensions to that date have been given; the last elapsed at the end of November.
We are informed that the deal was still not closed on that date and so now the deal stands lapsed, past the date given for closing, and not yet closed....which we take to mean that as of December, there is no deal. And we gather that's part of the reason Prosser is here in Belize, to get government to agree to sign another extension, which would put him back in play for two more months. Of course, at this point, the prime minister is free not to sign, and many close to him feel he would be well advised not to in view of Prosser's past failings. Still, he's the only man in town game enough to pledge to cover those $30 million in Intelco debts guaranteed by the Social Security Board, and that should factor quite heavily into the Prime Minister's deliberations.