But they have appeared and today much of the arguments turned on who really owns E-com. Company Director Jose Alpuche has entered an affidavit stating that E-com is owned by a charitable trust, dedicated to alleviating poverty. We take that to mean Michael Ashcroft's poverty because on March 23rd when the Prime Minister disclosed the sale to E-com, Ashcroft called News Director Jules Vasquez to stress that E-com is a Michael Ashcroft owned company and not a Carlisle company, as the Prime Minister had said.
But now, it's being called a charitable trust and it sounds to us like just one more clever - if somewhat transparent - corporate maneuver. But today Ashcroft defended that position when Keith Swift caught up with him on West Street - in the heart of the city's southside where he was - you guessed it - learning all about poverty. Here's that interview.
Michael Ashcroft,
"I don't think it's a matter of regaining control. I think let's face it: the facts as they are at this particular juncture and the debate at the moment is over what is called and who can be a permitted person to own over 25% of BTL. I think the principle player at the moment, as seen by others, is the company called E-com. E-com is a wholly owned subsidiary of a Belizean owned charitable trust who has a number of charitable objectives in its memorandum. And therefore while I've been advising E-com, as some of my colleagues are on the board, its not me personally or Carlisle that has the economic interest in E-com. And like the employees 20% trust which is proposed in their trust, if eventually they are some gains to be made, it will be distributed amongst the employees of BTL and with E-com, in due course if they are profits to be made out of the 25% then those profits will be distributed to charities in Belize."
Keith Swift,
If I would ask the question who is E-com what would be your response?
Michael Ashcroft,
"Well E-com is like any charitable trust, there are beneficiaries to a trust and those beneficiaries are charitable causes in Belize including such things as alleviation of poverty, educational projects, and so forth. So no one actually owns a trust."
Keith Swift,
Through your Belize Bank you offered to finance 20% for the workers. They don't want to take that offer because they don't trust that you will make it possible for them to repay. What is your response to that?
Michael Ashcroft,
"They are perfectly free to accept or reject it. I really don't have a problem with that."
"You talk of getting back control but no one really knows what the future of BTL at the moment is going to be. I am very much an observer to a large extent here because the battle is predominantly still between Mr. Prosser and the Government of Belize and Mr. Prosser would like to regain his position: pay off the government of Belize and take ownership of BTL. As far as the government is concerned, they are under enormous international pressure in order to release U.S. dollars to help the reserve and pay off indebtedness. So the whole thing is an incredible mess with many agendas at play here."
"In the case of Belize I am fortunate enough to be able to have foreign currency. And if the circumstances are right, I have the freedom to invest in any country in the world where my funds are concerned. But if however I can do something in Belize then I would like to do so and obviously in a very heated political environment like today then you must expect a little mud to be thrown as people jockey around their own agendas. This is nothing unusual."
"I don't think it's as simple as if will I bail them out or will the IMF bail them out. If I'm able to make an appropriate contribution in order to help the country from where it is at the moment and government has any proposal they are more than free to come and chat."
Keith Swift,
For the record again, as of today Monday July 4th you do not want re-control of BTL?
Michael Ashcroft,
"Well as I've said to you, control is a difficult thing to argue. If you say do I personally want to own the majority control in BTL? My answer is no and it always has been no from the time that I sold the shares in the first place."
And while Ashcroft defended his so-called charitable trust, we note that E-com formed a bloc of shares with Ashcroft's companies, Mercury Communications, Carlisle Holdings, New Horizon and Seascape and voted in concert to take control of the majority of the company's C shares and got two directors from it.
