Last week, Supreme Court Justice, Courtenay Abel dismissed a claim brought by Sunshine Holdings Limited against the Government of Belize and the BTL Employees Trust. The claim is in relation to 11 million shares of BTL and millions of dollars. Justice Abel found that Sunshine’s claim had no merit. Essentially, what Sunshine was attempting to do is collect what it believed it was rightly owed. Prime Minister Dean Barrow hopes that there is an appeal.
Sunshine’s claim is in relation to the acquisition of Belize Telemedia Limited. Over ten years ago, the Social Security Board loaned Sunshine Holdings ten million dollars. Sunshine Holdings used that money to buy shares in BTL. But, when the government nationalized BTL, it also acquired the shares owned by Sunshine Holdings Limited.