Cel*Star Guyana seeks declaration as to ownership of its shares
Proceedings filed to dismiss Florida action
December 21, 2003
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Cel*Star Guyana Inc has applied to the High Court of Guyana for a declaration that TWT Guyana Ltd, is the true and rightful owner of its shares. TWT Guyana is a wholly-owned subsidiary of the regional enterprise Trans-World Telecom Caribbean Ltd.
Cel*Star Guyana said in a press release that it has taken this action in response to wrongful claims of ownership filed in Florida by Cel*Star Caribbean Inc, a Delaware company. The application seeks confirmation by the court in Guyana that under Guyana law Cel*Star Caribbean has no rights to the shares of Cel*Star Guyana and that its challenge to the ownership of Cel*Star Guyana is baseless.
Cel*Star Guyana said in the relase that it hopes that this action will put to rest the questions about the ownership of the company that have presented impediments to the implementation of its system.
Chief Operations Officer, Pierre Strasser, was quoted as saying that "the most unfortunate result of the delay is that it deprives the people and Government of Guyana of the benefits of a competitive cellular market. We all want to see the liberalisation of telecommunications services in this country move forward as quickly as possible, and it is for this reason that Cel*Star Guyana is taking deliberate action to vigorously fight against those outside parties seeking to act as an obstacle to Cel*Star Guyana's success for their own monetary interests."
Separately, motions also have been filed with the Florida court seeking dismissal of that lawsuit, the release said.
Cel*Star Guyana said it expects to launch its competitive cellular service in 2004 and is committed to providing the most advanced technology, dedicated customer care and best value for cellular service in the country. It says its GSM network will allow customers to access features never before available in Guyana, including global roaming, voicemail on all pre-paid and post-paid accounts, advanced SMS services and flexible-rate plans to meet every need.