The Caribbean Court of Justice (CCJ) today, 22nd November, 2017, handed down its decision regarding the matter of the Belize Bank vs the Attorney General of Belize where the Belize Bank was appealing the decision of the Belize Court of Appeal on the Universal Health Services (UHS) matter delivered on the 24th day of March 2017. In that ruling, the Court of Appeal upheld the Supreme Court's decision that enforcement of the final arbitral award of the London Court of International Arbitration dated the 15th day of January 2013 by the High Court in Belize would be contrary to public policy of Belize, and offend the legal and constitutional order of Belize.

The CCJ overturned the decision of the Belize Court of Appeal and ordered that the Government of Belize (GOB) pay to Belize Bank the money that the Said Musa administration had saddled the government with back in 2007. The total award in favor of Belize Bank is approximately BZ$88M plus interest and cost.

The Government of Belize is extremely disappointed and laments the judgement delivered by the CCJ. The lawsuit arose from a dispute stemming from one of the most egregious and scandalous acts of the Musa administration where the then government secretly diverted US$20 million that was granted by the Venezuelan and Taiwanese governments for social programs for needy Belizeans to pay towards a loan the PUP had contracted for UHS, a private hospital owned by PUP cronies. GOB maintains that the enforcement of the arbitral award granted by the London Court of International Arbitration is not only contrary to the public policy of Belize, but also offensive to the legal and constitutional order of Belize.

The public may recall the genesis of the protracted litigation, when in 2004 the Musa Administration signed a loan note, between the Ashcroft owned Belize Bank and the privately owned UHS, as the primary guarantor for a grand quantum of BZ$29M. The revelation of the agreement was so loathsome in the minds of the Belizean people that it led thousands to protest outside the National Assembly a month later. After UHS defaulted on its obligation to the Belize Bank, the taxpayers of Belize were left to shoulder the burden. Shortly thereafter, in complete disregard for and in contravention of the Finance and Audit Reform Act, the Musa Administration unlawfully diverted US$20M , gifted to GOB by the Venezuelan and Taiwanese Governments for the benefit of the people of Belize, to settle the UHS debt with the Ashcroft Alliance although both the Supreme Court of Belize and Court of Appeals found the loan note to be invalid as it was contrary to public policy. However, an Arbitration panel ruled differently and an arbitration award in excess of BZ$37M was granted by that Tribunal, even though it also deemed the diversion of Belize's grant funds to the Alliance was illegal.

The Rt. Hon. Prime Minister of Belize Dean Barrow, after assuming office in 2008, was steadfast in his decision not to honor the award originating from an unconstitutional loan guarantee and was even able to reclaim the monies gifted by Venezuela for the benefit of Belizean citizens. In its typical predatory fashion, the Ashcroft Alliance instituted a claim in the Supreme Court of Belize to enforce the judgement of the Arbitration Tribunal. Both the Supreme Court of Belize and Court of Appeal ruled that enforcement of the award would be contrary to public policy of Belize.

With the lower courts being consistent in their rulings, GOB is at a loss to understand this latest decision by the CCJ. To make matters worse, the Belize Bank earlier sold the assets of UHS to Belize Healthcare Partners Limited (another private entity) for approximately BZ$39M yet still claimed the award money from the people of Belize in the same amount. The Government of Belize will never understand how the Caribbean Court of Justice could have upheld this PUP/Ashcroft ripoff of the Belizean people.

GOB is seeking further legal advice as to its options now, on further behalf of the people of Belize.