25 June 2011

Fortis fighting two tin-pot bureaucracies

Newfoundland and Labrador based Fortis is seeking compensation for electricity production assets seized by two governments half a continent apart.

The company is seeking payment for its interest in a Belize electricity company seized this week by the government of that tiny central American country.

It is still locked in talks with the Government of Newfoundland and Labrador for the 2008 seizure of its assets in that Canadian province.

Odds are Belize will settle up first.
- srbp -