Portofino Resort- Now with a new BEACH BAR!!
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#180695 - 06/28/05 08:49 PM Supreme Court blocks BTL Sale
Anonymous
BTL's Communication Workers Union secured a major victory in court today when it was granted an injunction blocking Government from transferring any more shares to Michael Ashcroft and his companies. With that the Union has effectively stalled an $80 million transaction, what amounts to the largest privatization in the country's history.

The one and a half hour injunction hearing was held in the Chief Justice's chambers this morning. Michael Peyrefitte represented the Union, Michael Young represented BTL and Solicitor General Elson Kaseke appeared for government. Peyrefitte secured the injunction against strong protestations from the Solicitor General. That's no mean feat, because it effectively blocks, for the time being at least, a US$40 million sale depriving the government of hard currency that it most desperately needs. But Union Attorney Michael Peyrefitte says don't blame him.

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#180696 - 06/29/05 11:31 AM Re: Supreme Court blocks BTL Sale
Now Danny Offline
Thanks for the info.

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