Press Release - Saturday, June 25, 2011 - Belize Press Office - On Friday June 24, 2011 the Belize Court of Appeal ruled that the acquisition of Belize Te-lemedia Limited by the Government of Belize, is unconstitutional. As a consequence of that decision Mr Dean Boyce, one of the successful appellants, went to Telemedia's headquarters on St Thomas street in Belize City and purported to take back the company. Government then got immediate legal advice as to the full import and consequence of the Court of Appeal decision. On the basis of that advice Government concluded that it was not open, without more, to Mr Boyce to assume control of the company. The Court of Ap-peal judgment is declaratory in nature, and by itself does not deprive Government of its de facto possession of the company. For that to happen the appellant Boyce would have to go back to court for an enforcement order telling Government to give up possession. Gov-ernment thus instructed its appointee, the Executive Chairman and the Telemedia Board, to continue in command of the company unless presented with a court order specifically placing the appellant Boyce in control.
Government stresses that in resisting Mr Boyce government is acting strictly in accor-dance with the law. In fact It was Boyce and his lawyer who tried to circumvent the court processes by moving without the specifically required order. And government actually waited until it could be absolutely sure of its legal ground before it decided to resist Boyce.
Government also makes clear that it will fight any application for an enforcement order, and that it has several bases on which to do so. Government has also taken steps to ap-peal to the CCJ the Friday decision of the Court of Appeal. And regardless of the outcome of Boyce's application for an enforcement order, the appeal will be carried on.
The Government of Belize is naturally extremely disappointed at the ruling of the Court of Appeal. It is at a loss to understand how, in all the circumstances, the Court could have come to its decision, which has the effect of thwarting the will of the Belizean people as exercised by a sovereign Government. Nevertheless our system of democracy and rule of law is such that the decision must be respected, even as Government exercises all op-tions which that very rule of law gives to government.
Government also regrets the uncertainty that the legal developments have caused, espe-cially to the staff of Telemedia but also to the wider public. But Government will now use every recourse to preserve the status quo.
Finally, the Government of Belize thanks the Belizean people for what Government is cer-tain will be the continuing solidarity with, and support for, the entirely just and necessary struggle against Billionaire arrogance and disrespect for national pride and national sovereignty.
The fight will be carried on and one way or another Belize will prevail.
End
Showing posts with label Hon. Dean Barrow. Show all posts
Showing posts with label Hon. Dean Barrow. Show all posts
Sunday, June 26, 2011
Friday, June 24, 2011
Mexican President meets with Belizean Prime Minister
As part of the International Conference to pledge Support for the Central America Security Strategy, held today in Guatemalan City, the President of Mexico, Felipe Calderon met with the Prime Minister of Belize, Hon. Dean Barrow.
The leaders discussed major bilateral issues of mutual interest, specially their concern to strengthen security along the common border and improve border infrastructure. Therefore, they agreed on the need to soon put into operation the new border crossing at the junction of “Subteniente Lopez 2” on the Mexican side and Santa Elena, Belize. The new border facilities will allow both countries to have greater control over the movement of people and goods in the Mexico-Belize border.
As per the energy power supplied by Mexico to Belize through the Federal Commission of Electricity (Comision Federal de Electricidad, CFE), President Calderon reiterated Prime Minister Barrow the Mexican Government’s commitment to identify options that will maintain the electricity supply, taking into consideration the current situation in Belize.
During the meeting, both leaders reiterated their commitment to advance bilateral cooperation in combating drug trafficking and organized crime. They expressed their intention to achieve greater synergies with the process of regional collaboration in this field.
The leaders discussed major bilateral issues of mutual interest, specially their concern to strengthen security along the common border and improve border infrastructure. Therefore, they agreed on the need to soon put into operation the new border crossing at the junction of “Subteniente Lopez 2” on the Mexican side and Santa Elena, Belize. The new border facilities will allow both countries to have greater control over the movement of people and goods in the Mexico-Belize border.
As per the energy power supplied by Mexico to Belize through the Federal Commission of Electricity (Comision Federal de Electricidad, CFE), President Calderon reiterated Prime Minister Barrow the Mexican Government’s commitment to identify options that will maintain the electricity supply, taking into consideration the current situation in Belize.
Lastly, both President Calderon and Prime Minister Barrow congratulated the President of Guatemala, Alvaro Colom for the fruitful Conference on Security in Central America, and the significant results achieved during the event in order to contribute to security in the region. President Calderon was accompanied by Mexican Foreign Secretary, Patricia Espinosa.
Monday, June 13, 2011
Government of Belize Announces Intent to Acquire Control of Belize Electricity Limited (BEL)
The Government of Belize (the “Government”) issued a media release on Friday, June 10, 2011 announcing the Government’s interest, “...in purchasing majority shares in BEL so as to assume control of the company.” No purchase proposal has been received by Fortis Inc. (“Fortis” or the “Corporation”) (TSX:FTS).
Fortis holds an approximate 70% ownership interest in BEL, an integrated electric utility and the principal distributor in Belize, Central America, following investment at the invitation of the Government in 1999. In addition to its investment in BEL, Fortis owns Belize Electric Company Limited (“BECOL”), a non-regulated hydroelectric generation business that operates three hydroelectric generating facilities in Belize.
In June 2008 the Public Utilities Commission of Belize (“PUC”) issued a rate order that has had a significant negative impact on the financial condition and operations of BEL. The order effectively disallowed the recovery of previously incurred fuel and purchased power costs in customer rates and set customer rates at a level that does not allow BEL to earn a fair and reasonable return. BEL appealed the PUC rate order to the Supreme Court of Belize.
On March 15, 2011, the court rendered its judgment dismissing BEL’s application and finding that, among other things, the generally accepted concept of Good Utility Practice is not applicable in Belize. BEL has appealed this judgment to the Court of Appeal of Belize; however, a hearing is not expected until the first quarter of 2012. On May 16, 2011, the Supreme Court of Belize granted BEL’s application to enjoin the PUC from engaging in any rate making proceedings or taking any enforcement or penal actions against BEL pending the appeal of its judgment. BEL has been in default of covenants under its long-term lending agreements since 2008 and has had no access to credit during this period.
As at March 31, 2011, the assets of BEL represented less than 2% of the total assets of Fortis; the combined assets of BEL and BECOL represented approximately 3% of the total assets of Fortis.
Fortis is the largest investor-owned distribution utility in Canada, with total assets of approximately $13 billion and fiscal 2010 revenue totalling approximately $3.7 billion. The Corporation serves approximately 2,100,000 gas and electricity customers. Its regulated holdings include electric distribution utilities in five Canadian provinces and three Caribbean countries and a natural gas utility in British Columbia, Canada. Fortis owns and operates non-regulated generation assets across Canada and in Belize and Upper New York State. It also owns hotels and commercial office and retail space primarily in Atlantic Canada. Fortis shares re listed on the Toronto Stock Exchange and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com or www.sedar.com.
Fortis includes forward-looking information in this material within the meaning of applicable securities laws in Canada (“forward-looking information”). The purpose of the forward-looking information is to provide management’s expectations regarding the Corporation’s future growth, results of operations, performance, business prospects and opportunities, and it may not be appropriate for other purposes. All forward-looking information is given pursuant to the safe harbor provisions of applicable Canadian securities legislation. The words “anticipates”, “believes”, “budgets”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “might”, “plans”, “projects”, “schedule”, “should”, “will”, “would” and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words.
The forward-looking information reflects management’s current beliefs and is based on assumptions developed using information currently available to the Corporation’s management. Although Fortis believes that the forward-looking statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties. For additional information on risk factors that have the potential to affect the Corporation, reference should be made to the Corporation’s continuous disclosure materials filed from time to time with Canadian securities regulatory authorities and to the heading “Business Risk Management” in the Corporation’s annual and quarterly Management Discussion and Analysis and the “Risk Factors” section of the Annual Information Form. Except as required by law, the Corporation undertakes no obligation to revise or update any forward-looking information as a result of new information, future events or otherwise after the date hereof.
Fortis holds an approximate 70% ownership interest in BEL, an integrated electric utility and the principal distributor in Belize, Central America, following investment at the invitation of the Government in 1999. In addition to its investment in BEL, Fortis owns Belize Electric Company Limited (“BECOL”), a non-regulated hydroelectric generation business that operates three hydroelectric generating facilities in Belize.
In June 2008 the Public Utilities Commission of Belize (“PUC”) issued a rate order that has had a significant negative impact on the financial condition and operations of BEL. The order effectively disallowed the recovery of previously incurred fuel and purchased power costs in customer rates and set customer rates at a level that does not allow BEL to earn a fair and reasonable return. BEL appealed the PUC rate order to the Supreme Court of Belize.
On March 15, 2011, the court rendered its judgment dismissing BEL’s application and finding that, among other things, the generally accepted concept of Good Utility Practice is not applicable in Belize. BEL has appealed this judgment to the Court of Appeal of Belize; however, a hearing is not expected until the first quarter of 2012. On May 16, 2011, the Supreme Court of Belize granted BEL’s application to enjoin the PUC from engaging in any rate making proceedings or taking any enforcement or penal actions against BEL pending the appeal of its judgment. BEL has been in default of covenants under its long-term lending agreements since 2008 and has had no access to credit during this period.
As at March 31, 2011, the assets of BEL represented less than 2% of the total assets of Fortis; the combined assets of BEL and BECOL represented approximately 3% of the total assets of Fortis.
Fortis is the largest investor-owned distribution utility in Canada, with total assets of approximately $13 billion and fiscal 2010 revenue totalling approximately $3.7 billion. The Corporation serves approximately 2,100,000 gas and electricity customers. Its regulated holdings include electric distribution utilities in five Canadian provinces and three Caribbean countries and a natural gas utility in British Columbia, Canada. Fortis owns and operates non-regulated generation assets across Canada and in Belize and Upper New York State. It also owns hotels and commercial office and retail space primarily in Atlantic Canada. Fortis shares re listed on the Toronto Stock Exchange and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com or www.sedar.com.
Fortis includes forward-looking information in this material within the meaning of applicable securities laws in Canada (“forward-looking information”). The purpose of the forward-looking information is to provide management’s expectations regarding the Corporation’s future growth, results of operations, performance, business prospects and opportunities, and it may not be appropriate for other purposes. All forward-looking information is given pursuant to the safe harbor provisions of applicable Canadian securities legislation. The words “anticipates”, “believes”, “budgets”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “might”, “plans”, “projects”, “schedule”, “should”, “will”, “would” and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words.
The forward-looking information reflects management’s current beliefs and is based on assumptions developed using information currently available to the Corporation’s management. Although Fortis believes that the forward-looking statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties. For additional information on risk factors that have the potential to affect the Corporation, reference should be made to the Corporation’s continuous disclosure materials filed from time to time with Canadian securities regulatory authorities and to the heading “Business Risk Management” in the Corporation’s annual and quarterly Management Discussion and Analysis and the “Risk Factors” section of the Annual Information Form. Except as required by law, the Corporation undertakes no obligation to revise or update any forward-looking information as a result of new information, future events or otherwise after the date hereof.
Friday, June 10, 2011
PM Barrow meets with President/CEO of BEL
Press Release - Belize Press Office, Belmopan - June 10, 2011 - The Hon. Prime Minister met today in his Belmopan Office with Mr. Lynn Young, President and Chief Executive Officer of the Belize Electricity Ltd (BEL) to discuss the current financial position of BEL.Also present at the meeting were the Legal Counsel in the Ministry of Finance and the Financial Secretary.
The Prime Minister asked Mr. Young to convey to FORTIS INC., the majority shareholder in BEL, the Government’s interest in purchasing majority shares in BEL so as to assume control of the company.
Mr. Young undertook to immediately relay this message to FORTIS INC. and to convey their response as soon as possible.
In the meantime and in order to ensure an uninterrupted supply of power from CFE and other producers to BEL, and also to provide time for possible negotiations with FORTIS, the Government has agreed to pre-pay a further sum of BZ$4.0 million toward its future utility bills with BEL.
Ends
Friday, December 17, 2010
United Nations Resident Coordinator Presents Credentials to Belize Prime Minister
Press Release - UNP Belize - December 16, 2010- United Nations (UN) Resident Coordinator (RC) and United Nations Development Programme (UNDP) Resident Representative (RR), Mr. Roberto Valent, presented his credentials to Prime Minister of Belize, the Honorable Dean Barrow, in a meeting held in Belize City on Wednesday, December 15, 2010.
Valent congratulated the Prime Minister on the Government of Belize’s work and the country’s progress in development. The Resident Coordinator went on to pledge the continued support of the United Nations organizations in the country and from an international level, to Belize, on the various existing initiatives, and new directions that the Government is planning.
During the meeting Mr. Valent spoke about the levels of achievement of the Millennium Development Goals (MDGs) in Belize, as there needs to be a focus on the global joint effort needed for achievement by 2015. He emphasized that it is of vital concern to the UN agencies to be aligned with and support the national development priorities of Belize.
During his visit, the Resident Coordinator will meet with UN agencies in the country and other national counterparts, as well as visit some projects.
Mr. Roberto Valent as the newly appointed UN Resident Coordinator and UNDP Resident Representative for the Republic of El Salvador and Belize, is based at UNDP Salvador, which provides support to United Nations organizations in Belize and to the UNDP Belize office headed by Dr. Francisco Roquette, Assistant Resident Representative.
- Ends -
Valent congratulated the Prime Minister on the Government of Belize’s work and the country’s progress in development. The Resident Coordinator went on to pledge the continued support of the United Nations organizations in the country and from an international level, to Belize, on the various existing initiatives, and new directions that the Government is planning.During the meeting Mr. Valent spoke about the levels of achievement of the Millennium Development Goals (MDGs) in Belize, as there needs to be a focus on the global joint effort needed for achievement by 2015. He emphasized that it is of vital concern to the UN agencies to be aligned with and support the national development priorities of Belize.
During his visit, the Resident Coordinator will meet with UN agencies in the country and other national counterparts, as well as visit some projects.
Mr. Roberto Valent as the newly appointed UN Resident Coordinator and UNDP Resident Representative for the Republic of El Salvador and Belize, is based at UNDP Salvador, which provides support to United Nations organizations in Belize and to the UNDP Belize office headed by Dr. Francisco Roquette, Assistant Resident Representative.
- Ends -
Wednesday, November 24, 2010
Edmund Castro is no longer a Minister of State
- Press Release - Office of the Prime Minister - Belmopan - November 24th, 2010 - The Office of the Prime Minister announces that the Prime Minister has, with immediate effect, removed Hon. Edmund Castro as a Minister of State. The decision was taken following a report made to the Prime Minister about an incident involving Hon. Castro. The Prime Minister was satisfied, after due consideration, that the report was substantially accurate; and that Hon. Castro had engaged in behavior inconsistent with the high standards of propriety to which the Prime Minister seeks to hold his ministers.Accordingly, in keeping with his personal commitment to the electorate, and the UDP Administration’s general determination to practice good governance, the Prime Minister has acted.The question of a replacement Minister of State in the Ministry of Works, is one to which the Prime Minister will later give his attention.
(END)
Edmund Castro
Thursday, October 21, 2010
Prime Minister’s Visit to Mexico Achieves Major Progress in Bilateral Cooperation, Assistance and Development
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-Press Release - GOB, Belmopan- 21st October, 2010-Major progress has been achieved in vital areas of cooperation, assistance and development as a result of the official visit to Mexico earlier this week by Prime Minister Hon. Dean Barrow and a ministerial/technical delegation which left Belize on Sunday October 17 and returned home on Tuesday October 19th 2010.A total of FIVE bilateral agreements and documents were signed by the two countries. Signed by Hon. Patrick Faber, Minister of Education and Youth was an agreement for Technical Cooperation to support Quality and Competitiveness in Technical Education and Training. Meanwhile, Minister of Foreign Affairs and Foreign Trade Hon. Wilfred Elrington signed three documents. One is an exchange of letters for the exemption of Mexican visas for holders of Belize Diplomatic Passports to include Official Passports, another is a memorandum of understanding between the foreign ministries of both countries regarding Cooperation to support National Communities abroad, and the third is a Cooperation Agreement between the Mexican Institute of Industrial Property Rights and the Belize Intellectual Property Office.
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Also during the visit, Chief Executive Officer in the Ministry of Foreign Affairs and Foreign Trade, Alexis Rosado signed the Final Act of the VI Session of the Bi-national Commission held on September 30 and October 1st, 2010, which covers a wide range of areas for cooperation, assistance and development..jpg)
During bilateral meetings held on Tuesday between the delegations headed by Prime Minister Dean Barrow and President Felipe Calderon, further cooperation and assistance was discussed in a number of areas such as Regional Security, Energy, Infrastructure, Housing, Education, Trade and Investment, Tourism, Sports and Climate Change.Another substantive achievement coming out of the Prime Minister’s visit was an agreement with representatives of COMCE for a team of Mexican business people to visit Belize in February of next year to explore possible areas of trade and investment and to help develop the framework for a partial scope agreement between Belize and Mexico. The agreement was reached during a breakfast meeting that the Prime Minister and his delegation held with members of the business community in Mexico City.
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The Prime Minister’s delegation to Mexico City included Minister of Foreign Affairs and Foreign Trade Hon. Wilfred Elrington, Minister of Education Hon. Patrick Faber, Senior Advisor and former Prime Minister Dr. Manuel Esquivel, CEO in the Office of the Prime Minister Audrey Wallace, CEO in the Ministry of Foreign Affairs Alexis Rosado, CEO in the Ministry of Works Cadet Henderson, and CEO in the Ministry of Housing Lawrence Sylvester.The Prime Minister and his delegation were accompanied during the entire visit by Mexico’s Ambassador in Belize H.E. Luis Manuel Lopez Moreno and Belize’s Ambassador in Mexico H.E. Rosendo Antonio Urbina. (ends)
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