And while the government and people of Belize have many bitter and punishing pills still to swallow, so does government's former phone friend Jeffrey Prosser. The former majority owner of BTL has declared personal bankruptcy and done the same for his company, Innovative Communications.
According to a newspaper report from the Virgin Islands, the bankruptcy papers state that his debts exceed US$100 million. The decision to file voluntary bankruptcy comes as the company had been battling off attempts by various banking and corporate opponents to force it into involuntary bankruptcy.
But those entanglements were apparently still Prosser's ultimate undoing as he may have been forced to file after, you guessed it, missing a mandatory payment to U.S. companies he had reached a legal settlement with. An ICC release says the bankruptcy will not affect its operations in the Virgin Islands, its employees or its subsidiary companies. The company still has ongoing litigation against the government of Belize in courts in Belize, Canada, and the United States.
