BCB Attorney Says G.O.B. Must Pay Up

Eamon Courtenay

The government today issued a lengthy release attempting to explain the significant award to the BCB. While the government is admitting that it has responsibility to pay, the release goes on to argue that somehow it is Telemedia who should be paying. But today’s tribunal decision makes it clear that it is the Government of Belize who must pay the amounts awarded.

Eamon Courtenay, Attorney for BCB

“That is what this award is about.  Those arbitration proceedings went through the process.  We had a hearing in Costa Rica and the government was very ably represented by I think about five lawyers and the tribunal has now handed down its decision and the effect of the tribunal’s decision is that the Government of Belize owes British Caribbean Bank over forty-five million U.S. dollars as a result of the taking of the property.”

Isani Cayetano

“They have indicated that they have sought legal advice to mount another challenge against this particular decision.  Where do you see that going?”

Eamon Courtenay

“Well, I think what they have said is that they have a case that is currently pending in court that challenges the legality of the loan.  Now, I think any first year law student would be able to advise Telemedia that there is something called res judicata.  Once two parties go before a court or another tribunal that has jurisdiction and the parties raise an issue and that court or tribunal decides that issue and the decision is final is called res judicata.  Both parties are bound by it and neither one can deny what has been held.  This arbitration, the primary defense of the Government of Belize was that the loan was unlawful.  They mounted their case, they brought their claim, they’ve used all their cases and we did the same.  The tribunal ruled one hundred percent in favor of the bank.  The decision of the tribunal is final.  The issue is res judicata.  The claim that is sitting in the Supreme Court of Belize as between the Government of Belize and British Caribbean Bank, that defense is over and done with.  It has been decided.  It is time for the Government of Belize to be honourable and to pay money that is due to my client.”

We note that the decision from the tribunal comes on the heels of government’s responding last week to legal challenges to its nationalization of B.T.L. at Belize’s highest court, the Caribbean Court of Justice. A decision in that case is expected early next year.