Having been sued by TATT for breach of contract Laqtel has pleaded guilty to a breach of contract and will be sentenced on October 11th.

It was alleged that during the period April 1, and August 31, this year, Laqtel committed a continuing and material breach of condition of its concession granted on December 31, 2005 by failing to provide a performance bond in the sum of $4 million to TATT, contrary to section 65 (b) of the Telecommunications Act 2001.

The bond has to be provided before the company can obtain its mobile license.

TATT on December 31, 2005, issued to Laqtel a concession for the operation of domestic mobile telecommunication services.The concession contained requirements as to the launch and roll-out of relevant services throughout the country.

TATT required Laqtel to post a $4 million performance bond to guarantee that it performed its obligations in accordance with the concession.

One is now left to wonder about the faith of the workers whose employment were terminated back in July.

(via Newsday)