It's going to be war in a Miami courtroom on Monday between Jeff Prosser's ICC on one side and the Government of Belize on the other. That's the decision that had to be taken after talks to arrive at a compromise broke down. Under the compromise, ICC proposed that Government would have given Jeff Prosser until the end of March to pay. During that time, deposed CEO John Vondras would have been brought in to have an office at BTL. But that's not going to happen, at least not right now, because both sides could not reach an agreement on terms and they have decided to test their cases in a Miami courtroom.
It's a very risky maneuver for Government because if it loses the case, the court could order that the shares reassigned on February 9th be returned to Prosser. And the prospect of a legal defeat is very real because as an American businessman, Prosser not only has home court advantage, he's entered an affidavit before the court which lists various violations and promises to him that were broken by the Government of Belize.
