Belize - Belize News - Channel5Belize.com - Great Belize Productions - Belize Breaking News
Home » Featured, Trials » BISL Seeks US$60 Million in Lost Profits
Oct 22, 2014

BISL Seeks US$60 Million in Lost Profits

Denys Barrow

Among damages being sought is sixty million U.S. dollars, profits BISL claims it would have earned over the remainder of the seven-year contract.  Senior Counsel Denys Barrow says that there is no basis in the arrival of that figure.  Courtenay, on the other hand, asserts that experts have been hired to assess the quantum that the company would have gained during the period in question.

 

Denys Barrow, Attorney for G.O.B.

“That figure, in a Belizean context, for the people of Belize be made or to have even a claim against them for sixty million U.S. [dollars] is a huge cloud to be under.  It is something that you do not take lightly.  It is something that you fight against, I mean from the word get go.”

 

Reporter

“Sir, I noticed also that you mentioned that there is no evidence to support this quantum.  Describe to us why you made that assertion in court.”

 

Denys Barrow

“Well as I mentioned in court, the reference to the sixty million does not come from anybody saying that this is what we have lost.  It comes from somebody saying that we issued a press release in which we told the Belizean people that “dis da weh wahn ketch unu.”

 

Eamon Courtenay

Eamon Courtenay, Attorney for BISL

“We have experts who have looked at the performance of the registry, the income of the registry, the revenue of the registry, the expenses of both registries obviously and the projection for what was likely to be earned for the balance of the term.  And based on that the experts have advised what they see is that profits that our clients have lost.”

 

Reporter

“Will your side be presenting this as evidence to the court as to how you arrived at this figure?”

 

Eamon Courtenay

“Oh, absolutely.  I mean there is very comprehensive and very clear expert reports that have been prepared substantiating the amount that we would claim.”

 

Denys Barrow

“At the end I think Mr. Courtenay and I were quite agreed that it is entirely open to the judge to decide to not strike out the case but direct that it should proceed in the regular fashion rather than as a constitutional law claim.”

 

The matter was presented before Justice Michelle Arana.

Be Sociable, Share!


Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

Advertise Here

Leave a Reply

CAPTCHA Image
*