Government’s Actions, Do They Bode Well for Investor Confidence?

Michael Ashcroft

In a lengthy written decision accompanying the C.C.J.’s ruling on Tuesday, there are several points in which the bench rebukes the Government for its actions pertaining to B.I.S.L.  Justice Peter Jamadar in his judgment highlighted the fact that the company was deprived of its share of income for seven years, from June 2013 when it was taken over to June 2020 when the court’s decision was rendered.  He describes government’s actions as, quote, arbitrary, unreasonable, unlawful and forcible in taking control of the registries.  But what does the abuse of state power say about investor confidence since it erodes the fundaments of trust and confidence in doing business with government?

Lord Michael Ashcroft

“If they were able to get away with that it gives no comfort in the future for international investors coming to Belize when they are informed that the court process here is that if the government doesn‘t like the decision of the C.C.J. they can simply play around with so-called conscience votes in the house and try to avoid payment.  But at the end of the day I hope that we do set precedence that this type of activity will not be tolerated in a democracy.”

Those actions, says Justice Jamadar, are constitutionally immoral.