CCJ Rules Against Titan International Securities
The Caribbean Court of Justice today also delivered a judgment partly against Titan International Securities which launched a lawsuit against the Government of Belize after its offices on Coney Drive were raided on September ninth, 2014. The C.C.J. affirmed the Court of Appeal’s decision to set aside a four-point four-six million U.S. dollars award in compensatory damages. The C.C.J. also ruled that Titan Securities be paid one hundred thousand Belize dollars by the government for vindicatory damages in respect of the breach of its constitutional right to privacy. So Titan’s multi-million dollars award for losses was dismissed and the court awarded damages. In its claim, Titan was seeking an order that the decision of the Court of Appeal is set aside, an order for damages for breach of its constitutional rights in the sum of four-point four-six million U.S. dollars as compensatory damages and an order for vindicatory damages. In its ruling, the C.C.J. considered whether section eighteen of the Mutual Legal Assistance and International Cooperation Act is unconstitutional, whether Titan is entitled to monetary compensation for pecuniary damage and whether Titan is entitled to vindicatory damages. As we said, the C.C.J. allowed the appeal partially, awarding Titan Securities vindicatory damages. The judgment was delivered by Justice Rajnauth-Lee, Judge, C.C.J.
Justice Rajnauth-Lee, Judge, C.J.J.
“The court held Titan should be awarded vindicatory damages Belizean dollars a hundred thousand. The court noted that the correct approach when making such an award assess the nature of the breach in terms of the particular facts of the case and to decide whether an additional award was required which would not only vindicate the rights of the party but would also deter the authorities from engaging in such conduct. The court considered the fact and circumstance of the case and took the following matters in account before making the award. One, the trial judge found that a copy of the search warrant was not left with Titan’s officials. He had found that items were taken which were not relevant to the Request from the US Government. The Court of Appeal agreed that the search was conducted in an unreasonable and excessive manner since there was no sifting of the records to comply with the specific Request from the US. No inventory of the items taken was left with Titan. Titan’s attorney was denied entry into the premises during the search and the Court of Appeal found that the police officers acted in a very high handed manner during the operation. As to cost, the court found that there was no reason to interfere in the cost order made in the Court of Appeal and awarded Titan one-half of basic costs given that it was it partly successful in its appeal. The appeal was therefore partly allowed. The order of the Court of Appeal was affirmed save that this Court awards to Titan vindicatory damages for breach of its constitutional right to privacy in the sum of Belize dollars, a hundred thousand. The respondents were ordered to pay one half of the basic cost of the appeal.”
Four years ago, a team of law enforcement officers along with officials from the Financial Intelligence Unit stormed into the offices of Titan Securities on the fourth floor of the Matalon Building to execute a warrant for the arrest of Bahamian nationals Rohn Knowles and Kelvin Leach. The duo was indicted by a federal court in New York for facilitating the fraudulent manipulation of publicly traded companies in the United States.
