The news in the past few days has been all about Atlantic International Bank. But, in June it was about another international Bank. Choice Bank had its license revoked by the Central Bank - and a receiver was also appointed.
Now, choice is suing the Central Bank. The case management was held today before justice Courtney Abel in the Supreme Court. Their attorney Eamon Courtenay told us what came out of this preliminary hearing:..
Eamon Courtenay- Choice Bank Attorney
"This was the Choice Bank claim against the Government of Belize and the Central Bank, in which the Central Bank applied to stay the proceedings, because they've said that we had appealed to the Appeal Board and that we should await the outcome of the Appeal Board's decision. We [?] that application and the judge ruled in our favor and said that he would proceed with making directions. So that, the procedural directions for the case have been made and we are to file our affidavits and disclosure during December and January and then we come back to the court in January for the court to make further determinations."
Reporter
"On what basis did Justice Abel make his decision?"
Eamon Courtenay
"Well, he felt that, first of all, the revocation of a license of a bank is a very important matter and to be dealt with urgently. So, he wanted us to proceed as quickly as we could to bring the case to readiness to trial. If the appeal board rules in one way, then it may have an effect on the trial. If it rules in another way it may also have an effect but there will still be a trial."
The matter is also before an Appeals Board.
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