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Teleco Seeks $240 Million Settlement from Haitel

Teleco Seeks $240 Million Settlement from Haitel

Haitel became Haiti's original mobile phone system in 1998. In a licensing agreement, worth $14.5 million, Haitel received authorization to use Les Telecommunications d'Haiti's (Teleco) radio frequency band for a period of 15 years. Under the agreement Teleco and Haitel were to resolve any disagreements in a Haitian court.

Matters became complicated when the parties signed a second agreement in 1998, in which Haitel held shares in escrow as collateral to secure its debt to Teleco. An arbitration clause specified the two firms seek arbitration for any conflicts.

The trouble began when Teleco said Haitel made use of the frequency band from 1998 to 2007, but stopped paying licensing fees. Teleco demanded Haitel honor its debt under the licensing agreement. Haitel said it owed Teleco just $4.8 million under the shareholder agreement, and it would be paid in stocks, not cash.

Teleco insists the shareholders agreement is not valid because no evidence exists Teleco's board of directors ever authorized the general manager to mediate or sign the shareholder's agreement. U.S. District Judge Jack Weinstein agreed in a ruling he made on the case.

Teleco is suing Haitel for $240 million for licensing agreement fees Haitel defaulted on from 1998 to 2007 Haitel wants to go to arbitration, but has forfeited its rights according to Haitian law by being involved in protracted legal proceedings in Haiti.

Currently Teleco's legal action against Haitel is awaiting a ruling from Haiti's High Court, while Haitel is in bankruptcy proceedings.

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Natcom Telephone Company, the new TELECO in Haiti from Vietnamese telecommunications company, Viettel

Natcom Telephone Company,  the new TELECO in Haiti from Vietnamese  telecommunications company, Viettel

Here is a picture of the Logo for the Vietnamese telecommunications company, Viettel after purchasing Haiti TELECO.

Since TELECO was replaced by Natcom Telephone Company, things do not look the same any more and the demands and the stress imposed on the workers are no longer the same.

Many employees of the new Natcom Telephone Company have been complaining about lack of respect and support accorded to them

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Teleco -Haiti Earthquake - January 12, 2010

Teleco -Haiti Earthquake - January 12, 2010

Here is a photo of Teleco -Haiti Earthquake - January 12, 2010. It is reported that more than 230,000 people were killed. More than 3 million people were affected. Many homes and important structures were destroyed. A large number of people were left homeless and had to live under tents for several months

On January 12, 2010, a magnitude 7.0 earthquake hit Haiti, devastating Port-au-prince.

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