Belize Bank Back in Court Arguing for Its $10 million
posted September 25, 2008
Government has the US$10 million Venezuelan money safe in hand, but the battle for its ownership continues, and like any good - or bad Ė love affair it ainít over, till itís over. And so the Belize Bank was back in court today arguing that it should get back the money or more, specifically, that the Central Bank had no right to direct the bank to return it to government.
The hearing was held this morning at the Supreme Court before the Central Bank and Financial Institutions Appeals Board in Justice Awichís courtroom. The bankís attorney Andrew Marshalleck argued that the Central Bank could not issue a directive telling the bank to return the money. And thatís because no determination had been made establishing that government was entitled to the money. A substantial point, but his was just a preliminary matter and the case will not be heard by the board until December. At that time it may or may not be open to the public and the press.http://www.7newsbelize.com/sstory.php?nid=12254