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Jan 13, 2011

Special sitting of the Court of Appeal to weigh on Telemedia matters

In a telephone hearing held on Wednesday by the Caribbean Court of Justice, the Government of Belize, through its attorney, Lois Young, gave the CCJ an undertaking that all monies received from the sale of Telemedia shares compulsorily acquired by GOB would be held separate and intact in accounts held by the Central Bank or the commercial banks.  This means that the proceeds from the sale of shares cannot be mixed with other government money and cannot be dipped into by the government until after the determination of the appeal brought by Dean Boyce on behalf of the Employees Trust, challenging the constitutionality of the nationalization of Telemedia shares. Following applications brought by Dean Boyce and the British Caribbean Bank before the CCJ, GOB has taken the necessary steps to have their appeals against the acquisition of Telemedia heard on an urgent basis.  That appeal is scheduled to be heard on January twenty-fourth at a Special Sitting of the Court of Appeal comprised of Justices Dennis Morrison, Brian Alleyne and Boyd Carey.

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