Dominion Lending Centres Clearlease Reports Fortis (TSX:FTS) says government of Belize expropriates ownership of utility

Dominion Lending Centres Clearlease Reports Fortis (TSX:FTS) says government of Belize expropriates ownership of utility

VANCOUVER, BC (June 23, 2011) Dominion Lending Centres Clearlease Reports Gas and electricity utility Fortis Inc. (TSX:FTS) said Wednesday June 22that the government of Belize in Central America has expropriated the Canadian company’s controlling stake in the country’s main electrical distributor.

Fortis had owned 70 per cent of Belize Electricity Ltd., which provides power to consumers and businesses in the tiny country.

The company and the government had been involved in a dispute over a 2008 planned rate increase in the country. Reports said the government took over Fortis’s stake to ensure an uninterrupted supply of electricity.

Newfoundland’s Fortis said Belize passed legislation that also dismissed the board of directors of Belize Electricity, including Fortis nominees.

The expropriated company represents less than two per cent of Fortis’ total assets of more than $13 billion.

Fortis also owns a power generation business in the country called the Belize Electric Company Ltd., a non-regulated operator of three hydroelectric power plants.

There is no expropriation order for this business, Fortis said.

The company said compensation for the expropriation is yet to be determined.

Fortis said it had made the investment in the company after an invitation by the Belize government 12 years ago.

Fortis operates utilities and generating assets across Canada. Last month, Fortis announced a deal to buy Central Vermont Public Service, an electric utility in the American state of Vermont, for US$700 million.

Fortis shares were up three cents to $32.04 in late trading on the Toronto Stock Exchange.

Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk


Dominion Lending Centres Clearlease Reports Fortis (TSX:FTS) says government of Belize expropriates ownership of utility

VANCOUVER, BC (June 23, 2011) Dominion Lending Centres Clearlease Reports Gas and electricity utility Fortis Inc. (TSX:FTS) said Wednesday June 22that the government of Belize in Central America has expropriated the Canadian company’s controlling stake in the country’s main electrical distributor.

Fortis had owned 70 per cent of Belize Electricity Ltd., which provides power to consumers and businesses in the tiny country.

The company and the government had been involved in a dispute over a 2008 planned rate increase in the country. Reports said the government took over Fortis’s stake to ensure an uninterrupted supply of electricity.

Newfoundland’s Fortis said Belize passed legislation that also dismissed the board of directors of Belize Electricity, including Fortis nominees.

The expropriated company represents less than two per cent of Fortis’ total assets of more than $13 billion.

Fortis also owns a power generation business in the country called the Belize Electric Company Ltd., a non-regulated operator of three hydroelectric power plants.

There is no expropriation order for this business, Fortis said.

The company said compensation for the expropriation is yet to be determined.

Fortis said it had made the investment in the company after an invitation by the Belize government 12 years ago.

Fortis operates utilities and generating assets across Canada. Last month, Fortis announced a deal to buy Central Vermont Public Service, an electric utility in the American state of Vermont, for US$700 million.

Fortis shares were up three cents to $32.04 in late trading on the Toronto Stock Exchange.

Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk


Dominion Lending Centres Clearlease Reports Fortis (TSX:FTS) says government of Belize expropriates ownership of utility

VANCOUVER, BC (June 23, 2011) Dominion Lending Centres Clearlease Reports Gas and electricity utility Fortis Inc. (TSX:FTS) said Wednesday June 22that the government of Belize in Central America has expropriated the Canadian company’s controlling stake in the country’s main electrical distributor.

Fortis had owned 70 per cent of Belize Electricity Ltd., which provides power to consumers and businesses in the tiny country.

The company and the government had been involved in a dispute over a 2008 planned rate increase in the country. Reports said the government took over Fortis’s stake to ensure an uninterrupted supply of electricity.

Newfoundland’s Fortis said Belize passed legislation that also dismissed the board of directors of Belize Electricity, including Fortis nominees.

The expropriated company represents less than two per cent of Fortis’ total assets of more than $13 billion.

Fortis also owns a power generation business in the country called the Belize Electric Company Ltd., a non-regulated operator of three hydroelectric power plants.

There is no expropriation order for this business, Fortis said.

The company said compensation for the expropriation is yet to be determined.

Fortis said it had made the investment in the company after an invitation by the Belize government 12 years ago.

Fortis operates utilities and generating assets across Canada. Last month, Fortis announced a deal to buy Central Vermont Public Service, an electric utility in the American state of Vermont, for US$700 million.

Fortis shares were up three cents to $32.04 in late trading on the Toronto Stock Exchange.

Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk




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