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Dec 11, 2017

Court Restrained P.S.W.T.’s Loan Scheme, But No Challenges to Trustees

Magali Marin-Young

Senior Counsel Magali Marin-Young refuted the claims made by trustees at Thursday’s press conference, laying the facts of the case before the media this evening.  She says that the claims made by the defendants are furthest from the truth, that Genitty, White and Gardiner did not set out to remove any of the existing trustees from group.

 

Magali Marin-Young, Attorney for Genitty, et. al.

“At that press conference certain statements were made by them, one in particular that they had won round two in this claim that is before the court.  They had said that we had sought to remove trustees and that we had sought to shut down the trust, which is totally untrue. I have provided you with copies of our application to show you that we were not seeking to shut down any trust and we were not seeking to remove any trustees.  The beneficiaries were seeking to restrain the trustees from lending monies, disbursing monies out of the trust fund and we were successful in getting an order restraining the trustee from disbursing trust funds without permission of the court.”

 

Reporter

“For all intents and purposes, is that an injunction?”

 

Magali Marin-Young

“Yes, it is.  There is a restraint on them.  A restraint is an injunction.”

 

Reporter

“Before we continue any further, could you tell us, if you in March received a judgment against the Public Sector Workers Trust.  Could you in a nutshell encapsulate what it is that the judgment said?”

 

Magali Marin-Young

“This case is about a trust that was established by the Government of Belize between 1995 to 1997 suffered financial prejudice.”

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