7 News Belize

Choice Bank Says GOB Gave It No Choice, No Voice
posted (August 9, 2018)
Government has another lawsuit on its hands. This time it's Choice Bank - which had its license revoked by the Central Bank at the end of June.

Well, the Bank has retained the law firm of Courtney Coye LLP - and a 164 page suit names the Minister of Finance, the Central Bank, and The Attorney General as respondents.

Basically, Choice says that it had a Repayment Plan to return all its depositors' money, but - it claims that the Central Bank acted unilaterally in revoking the license and appointing a liquidator.

Now, Choice wants the court to declare that government acted unlawfully and to award its damages and costs. Choice says that it should have had an opportunity to be heard before its license was revoked.

No date has yet been set for hearing.

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7 News Belize