In our story on the sale of BTL shares on Friday, we reported that the government and the BTL board of directors were declaring as null and void a 22.5 million US dollar loan that the Belize Bank made to Telemedia.
Well, the Belize Bank has taken issue with that assertion. Bank President Phil Johnson wrote us a letter saying that the loan was not made by the Belize Bank; it was made by the British Caribbean Bank in Turks and Caicos.
But as this document shows, when the loan was made in July of 2007, the lender was the Belize Bank (Turks and Caicos) - whose name was changed to the British Caribbean Bank in February of 2009 - making it so that indeed, the debt is currently owed to the British Caribbean Bank.
Johnson advises us that the Belize Bank Limited in Belize is a different company from the Turks and Caicos based British Caribbean Bank.
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