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Mar 14, 2018

In Washington, Court Says Assets Can Be Collected

Eamon Courtenay

The Belize Bank is tightening the screws. On Monday a U.S. district court judge ordered that the Bank can seize property owned by the government of Belize “in the jurisdictions where such attachment or execution is appropriate.”  The ruling was mentioned by Senior Counsel Eamon Courtenay during arguments for the Bank’s case at the C.C.J. earlier today.

 

Jacob Wit, Judge, Caribbean Court of Justice

“For my information, has there been steps to enforce this judgment outside of Belize – the judgment or the award?”

 

Eamon Courtenay, Attorney for Belize Bank Limited

“All I will say, Your Honors, is that the judge in the United States District Court yesterday, issued the 1618 order, giving my client the liberty now to move to execution; that was yesterday.”

 

Judge Jacob Wit

“Yes, if you can find something to execute it on.”

 

Eamon Courtenay

“I prefer not to respond to that, Your Honor.”

 

Adrian Saunders, Judge, Caribbean Court of Justice

“But as a practical matter, if there is some execution taken in the United States, then that would reduce the amount which is liable to be executed on in Belize. So it is a messy situation; there has to be some continuing accounting…”

 

Eamon Courtenay

“Yes. There is no question that there could be double payment. Wherever there is collection, however, there is one debt that is due.”

 

The Government has insisted that it has no assets outside of Belize which could be enjoined to satisfy this or any other arbitration award due.

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