As we've been reporting for the past two nights, the Briceno Administration has reached a settlement with the Ashcroft Alliance for the 2013 nationalization of the ships and companies' registries - collectively called BISL - Belize International Services Limited.
The Caribbean Court of Justice found that it was unlawful and that the government had to pay BISL compensation and damages in the tens of millions.
Today, the 76/5 million Belize dollar settlement figure was taken to the house for approval - and the opposition didn't put up too much of a fight:
Hon. John Briceno, Prime Minister
"The highest court whose judgement is final, determined that the UDP government was in fact the law breaker, not BISL nor the previous government. The damages were due for the 7-year extension and that the supreme court should determine the amount government would have to pay. The CCJ underscored that damages payable to BISL should be quantified by the court and paid by the government on an expedited basis, their words, not mine. So, the obligation to pay BISL damages is a public debt that my administration inherited from the United Democratic Party government."
"Let me repeat, there is no question that government must pay, only a question of how much it will pay and after months of arduous settle negotiations, government today proposes to settle all liabilities related to BISL for the equivalent of US38.25 million dollars of which 11.5 million dollars will be paid in Belize dollars."
"The claim was for over 65 million US dollars or 130 million Belize dollars. The BISL claimed, I must stressed grows everyday with daily interest depending on the eventual core compensation of between BZ$4,000-$17,000 a day and so after the proposed settlement government will still net US48,615,000,789. Simply put government pays this now so that it can avoid paying a whole lot more at some time in the future."
Hon. Shyne Barrow, Leader of the Opposition
"Mr. Speaker, I just like to give the prime minister a round of applause for that outstanding performance. Mein, I've never seen someone sing for their supper that way. I have to take my grammy award and give it to you, I retired."
"Who are in desperate need of economic development, the prime minister accused me singing for my supper, but the same owners of Waterloo own BISL and my goodness, you are weeping and moaning and it begs the question, because I know you are business partners with the owners as well - you or your brother or your family, but the Belizean people really need to see you for what you are. But Mr. Speaker as far as this appropriation is concerned, I agree that we must follow the rule of law and we must pay our debts."
"For 23 years this corporation to the tune of 200 million, maybe less than that has had the benefit of managing doing a profit share with the government, unnecessarily so and it was the PUP government that gave our corporation to a foreign entity, Mr. Speaker.
"And during their management time there were all kinds of nefarious activities taking place; ships with Belizean flags with 5,000 kilos of cocaine, ships with Belizean flags with Russian missiles and all types of illegal arms, Mr. Speaker, this is what was happening. So when the Barrow administration came in in 2008, the contract was still there. The Barrow administration respected the contract that we knew about, because what the prime minister did not mention is that no one knew about the 15-year extension that then Prime Minister Musa gave to BISL. I don't even think the cabinet at the time knew about this secret agreement."
"Prime Minister Barrow and the UDP did the right thing. It was Prime Minister Musa who behind the back of his cabinet, behind the back of the Belizean people made a secret agreement with the owners of BISL which led to the litigation."
Hon. Tracy Taegar-Panton, UDP Albert Rep.
"In one payment we can settle a 38.5 million US dollars, 76 million dollars [Belize] on the backs of the Belizeans. Wasn't it just the last house meeting when the government coerce the churches to say we will put a hold on the referendum on marijuana because we can't afforded the 5 million, but yet Mr. Speaker we can find 76 million dollars to meet this debt obligation in one payment, not through a payment plan, not in instalments that would be less burdensome for the Belizean people - in one payment. We were so good at evaluating the quantum of the settlement, but we paid no attention to how we could ease that burden for the Belizean people. Food, we playing politics with the distribution of food to families who are marginalized. So, I do agree that we owe the debt. I do agree that as a sovereign nation we ought to pay the debt, but I also want the full transparency and accountability in this process."
