BTL's Annual General Meeting is scheduled for next week Friday - but if the Ashcroft Alliance has its way - the phone company won't be issuing any dividends - which is like having a birthday party without any cake!
7News has learned that the Ashcroft Alliance - in the person of the BTL Employees Trust - has applied to the Caribbean Court of Justice in Trinidad to stop the payment of this year's ten million dollar dividend - most of it to the majority shareholder, the Government of Belize.
The Alliance argues that with the default on the Superbond - Government is broke and basically can't be trusted with the receipts from the dividend payment.
The hearing has been granted by videoconference for next week Wednesday - two days before the AGM.
Today the Prime Minister said he'll have to wait and see what the court says:
Jules Vasquez
"The Ashcroft Alliance has applied to the CCJ and has gotten a video conference hearing for next week to block the issuance od dividend from BTL which the AGM is next Friday. Are you aware of this and will it stops the procession of the AGM and the business of the AGM which is to issue a dividend?"
Hon. Dean Barrow - Prime Minister
"I am sure the business of the AGM is more than that but I suppose it is principally that. We just have to wait and see."
BTL's Executive Chairman Net Vasquez said the agenda for the meeting includes the declaration of dividends and he has a duty to deal with every item on the agenda.
It is notable that the Caribbean Court has agreed to come off vacation to hear the matter.
