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Jan 22, 2016

Will Titanic Supreme Court Ruling be Appealed by G.O.B.?

Dean Barrow

In a judgment which must have given Prime Minister Dean Barrow a world-class migraine, the Government of Belize has been ordered to pay Titan Securities eight point nine million dollars. In 2014, the Financial Intelligence Unit descended on Titan’s offices at the Matalon Building and seized all documents, computers and equipment, closing down operations. Titan sued government, claiming that its rights had been breached. The company sought compensation for damages to the company which was reportedly worth twenty-two million dollars U.S. at the time. The judgment awarded them twenty percent of that, but even that small portion of what was sought is unacceptable to Prime Minister Dean Barrow.

 

Prime Minister Dean Barrow

“We will appeal…we will appeal. Absolutely we will appeal. We don’t think that judgment can stand. We will appeal.”

 

Reporter

“Sir…can you give us some background as to what happened for us to get to this point?”

 

Prime Minister Dean Barrow

“No sir, I cannot. All I am telling you is that we will appeal, and since therefore it is going to be an ongoing matter for the Courts of this country, I will say no more.”

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