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Sunshine Holdings should pursue case against BTL Employees’ Trust says PM

The Prime Minister also spoke on the matter of Sunshine Holdings versus the BTL Employees’ Trust. On January 15, the Caribbean Court of Justice ruled that Sunshine Holdings can sue the Trust for monies owing to the company. Here is what the PM says he understands of the case and Sunshine Holdings position.

Dean Barrow – Prime Minister of Belize

“As I understand it Sunshine Holdings in fact there is saying that the monies collected by the Trust with respect to the compensation settlement, are monies that should have gone to Sunshine even if thereafter Sunshine would have been obliged to pay out the bulk of it to the Trust. That’s a large part of the issue perhaps even more important Sunshine is saying that in the alternative even if the compensation was not all together payable to Sunshine certainly the investment loan that Sunshine made to purchase those shares for which the Employees Trust as we say the compensation. Those investment loans must be satisfied out of the compensation that the Belize Trust has received. The investment loans of course are owed to Government and to SSB so I think that it is entirely appropriate and in fact mandatory that Sunshine should further pursue this issue. The Employees Trust as I think you know and perhaps that’s part of what you were alluding to, tried to get the CCJ to in fact rule that Sunshine ought not to be allowed to proceed with the Supreme Court action and the CCJ said absolutely not so the matter is well and truly joined now before the Supreme Court and I hope that Sunshine will have some success.”

The Supreme Court case is set for February fifth before Justice Courtney Abel.