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BTL Chairman Says that Net Vasquez’s Debt to the Company is Before Arbitration

Another legal matter that Belize Telemedia Limited is dealing with is one involving its past chairman, the late Nestor Vasquez. Before his passing in April 2021, Vasquez was accused of using the company’s credit card on personal items, racking up more than eight hundred thousand dollars in expenses. Vasquez reportedly paid some of the money but was contesting a huge bulk of it. Since his passing, the government continued its aim to retrieve the money and as Chairman Mark Lizarraga explained, the matter is before arbitration.

Mark Lizarraga, Chairman, Board of Directors, BTL: “That matter I understand is going to arbitration. It’s still before the courts and I think the court has ordered that it goes to arbitration so it’s still a live issue.”

Reporter: Are you able to share any specific figures because I’m not sure if you have established how much he has paid exactly and how much is contested at the moment.

Mark Lizarraga, Chairman, Board of Directors, BTL: “My understanding is that it’s about half paid and there’s some three hundred thousand give or take outstanding that’s my understanding of it and I don’t think that has changed. So it’s before the courts.”