G.O.B. loses round one of battle with Belize Bank
The Belize Bank won the first round of the battle over the ten million dollars U.S. from Venezuela that government is attempting to recover. This morning the Chief Justice issued a stay in the matter and to add to the bank’s victory, Chief Justice Conteh, in delivering his twenty-six-page judgment on the matter, ordered the government of Belize to pay ten thousand dollars in costs to the Belize Bank.
Andrew Marshalleck, Attorney for Belize Bank
“Given the state of the law and the facts as presented their really could have been no other conclusion. Even the chief justice recognised the public feelings about the issue and noted his unease in doing what he did. But at the end the law prevailed and it is a correct decision.”
An elated Andrew Marshalleck, who appeared for the Belize Bank, told News Five’s Ann-Marie Williams that he is satisfied with the outcome. Before costs were awarded, Pricilla Banner, who appeared on government’s behalf tried unsuccessfully to rid government of the court costs suggesting that each party bear its own cost. She told the court (quote) “despite the actions of Musa, these funds are for Belize and it’s incumbent on government to follow the money. It’s public interest and G.O.B. had to defend the stay.”
At the last hearing on June twentieth, Belize Bank’s attorney Nigel Pleming told the court that the settlement Deed signed in March along with other issues should be settled in arbitration. For her part, former Solicitor General Tanya Herwanger, who was on the case at the time for government, argued that the verbal arguments cancelled out the March deal and because no clause was included in that understanding to have any disputes settled by arbitration, the Chief Justice Abdulai Conteh can make a determination in the matter.
Conteh determined three crucial issues his judgment and we quote:
1. I cannot with the best will in the world conclude that there’s no dispute in respect to the matter agreed to be referred to arbitration,
2. I find this a valid and existing arbitration agreement whose scope includes the dispute that is thrown up by the substantive claim of G.O.B. in this matter,
3. And that I must therefore order a stay of the claim in this section. I note that there is no claim made against the two persons named as interested parties. I must discharge the injunction I had ordered on May second, 2008 restraining the Belize Bank from pursuing any proceedings outside of Belize in relation to the government of Belize’s claim in this matter. Therefore the matter of the cross injunctions should no longer exist.
The Court also found that if government wishes to raise the issue of public funds, it must be done in arbitration in London.
