For three decades now we have catalogued the struggles of the Esquivel, Musa, Barrow and Briceno administrations in trying to co-exist with the Ashcroft Alliance and its various holdings in bankings, telecommunications, tourism and media.
It's no easy feat - and just like his predecessors - PM Briceno's relations with the Alliance soured shortly after he was elected.
But, he has reached a quick settlement - the kind that eluded Prime Ministers Musa and Barrow.
And to hear him tell it - it's also the cheapest - since government got a total discount of 64% from the values Ashcroft had placed on the sums claimed for the Port of Belize and other outstanding matters.
That includes two judgements the Alliance has been unable to collect for going on two decades: the BDSL and BCB holdings judgements. These were granted by US courts and the Alliance has simply not been able to enforce them in Belize.
Former PM Dean Barrow also had to contend with those judgements and he flatly refused to pay. Today he told us that the Briceno administration should have never paid - even if it did negotiate an 85% discount on the value of the judgments plus interest:
Jules Vasquez
"What did you feel when the government - objectively looking at just the numbers - it got a very good deal on the settlement of those judgments as being $0.15 on the dollar when you calculate the judgments with all the interest that has accrued."
Dean Barrow, Former PM
"That can never be a good deal because those judgments were valueless. They had a nominal or notional value, but they could not ever be collected on. And so they were worth nothing in Michael Ashcroft's hands. Remember that there is a long history behind this. I gather the Prime Minister has said, Well, you never know they might be able to go after our reserves. Absolutely not. We got proper advice and it is indubitable that our reserves are untouchable, completely immune. So are, of course, our diplomatic premises. Government owns nothing abroad that's commercial. So there is simply no way for Ashcroft to have collected on the judgments and the years and years and years have gone by and he's not very able to collect."
"Why would the prime minister suddenly say, well, you know, we are in this fashion avoiding the possibility that he might be able to seize or assets abroad? Stuff and nonsense. Pure B.S."
Jules Vasquez
"So but it can be argued, yes, they might not be able to, to take your reserves or your diplomatic assets, but from time to time when government has to make large payments, debt service payments, as the case may be."
Dean Barrow, Former PM
"They can't because we've been doing that."
Jules Vasquez
"They could grab them."
Dean Barrow, Former PM
"Not at all because we've been doing that. If that would have been possible, why on earth would it not have been done?"
Jules Vasquez
"Because the payments are too small - it would not have satisfied the debt."
Dean Barrow, Former PM
"Listen, listen. At at the time Michael Ashcroft said to me, You know what? I'll give these things over to a vulture fund. And he named one of the most notorious ones, I won't say famous - vulture funds. And I said, "Bring it on." I was absolutely cocksure that there was no way they could ever collect. And the fact is, my position has been vindicated. All these years have gone by. If Michael Ashcroft had any chance of enforcing, don't you think he would have done so? Nonsense. Nonsense. That was dead and gone. And for the prime minister to be suckered into paying those awards speaks volumes as to the whole provenance of this issue. Remember, this is a deal born out of corruption. This is a deal that has come about because the PUP came into office having clearly before the election come to some understanding - and I'll choose my word, my words carefully - with Portico. Ashcroft described their going to bat for Portico - or their determination to hold to their breathe that illegal accommodation agreement - as being a consequence of a new pension plan for the boys."
"Ashcroft, after he realized that there was no way there were ever going to give him the permits for the Waterloo cruise port projects decided to let fly."
"And as you know, being in the media, he launched a kind of carpet bombing, political carpet bombing of the government. He started off with Portico, but that extended to Mr. Perez, Minister Perez, and to Minister Ferguson. And it was clear that there would be no let up unless and until the government came to settle with him. So the prime minister didn't negotiate. He and his team - and we are yet to hear what are the costs for the legal team, the financial team that, according to the prime Minister, negotiated this deal, but there were not any real negotiations."
"They were negotiating with a gun to their head. Ashcroft's position was, you don't give me what I want with this. I will do everything, spend every dollar I need to to ensure that you will at least lose the next general elections. And between now and then, I will make your life politically a hell, a living hell."
