But, as Ashcroft noted, his BTL battle is only a skirmish compared to the open warfare Jeff Prosser is piling on the Government of Belize. Tonight, Miami Federal Judge Ursula Ungaro Beneges is considering a US$24 million breach of contract lawsuit, and while she does that, Jeff Prosser and ICC are taking government before the United Nation's Special Uncitral Arbitral Tribunal for defrauding the company. So how much does Prosser want this time? Well Prosser and ICC are asking for, you better be sitting down, US$200 million.
That's right, in a 13 page filing, Prosser is asking the tribunal to pay Belize Telecom nearly half a billion dollars for GOB's wrongful acts. Wrongful acts which according to their filing include: "fraudently inducing claimant to enter into agreement to buy BTL"; "wrongfully seizing control of BTL in February and barring Belize Telecom representatives from BTL property"; "misappropriating millions of dollars in investments by claimants to improve and upgrade BTL"; and_ "transferring wrongfully seized BTL shares to Ashcroft at below market price."
ICC and Prosser also argue that GOB failed to live up to its obligations under the share purchase agreement and that GOB and Ashcroft undermined the ability of ICC to obtain a loan to pay for the BTL shares. All that says ICC cost the company US$200 and it is asking the tribunal to either return to them the "wrongfully" seized BTL shares and assets and prohibit government from seizing anymore of the shares.
And if you are wondering why the arbitration is before the a tribunal in Canada, well in one more dubious move by the government - the share purchase agreement government agreed to surrender jurisdiction to the United Nations Commission on International Trade Law. ICC made its first attempt at the end of January to bring the dispute to mediation but government just moved in an took over the shares when Prosser could not pay the US$57 million as promised.
