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Belize Bank Asks Government To Settle Universal Debt With Treasury Bills
posted (December 6, 2018)

The Belize Bank is asking the Supreme Court to issue an enforcement order against the government, compelling it to pay the almost 100 million dollar award for the Universal Health Services debt.  This is after the Parliament voted against paying the debt from the Consolidated Revenue Fund in August.

That sent the Bank back to the Court, where a cluster of local and British attorneys spent the last two days before Chief Justice Kenneth Benjamin arguing that Government must pay - and if not not from the Consolidated Revenue Fund - then, alternatively, with Treasury Notes - which does not require parliamentary approval.  

Responding for the government side was high profile British Queen's Counsel, Ben Juratowitch - who has previously appeared at the ICJ for Belize.  

After two days of arguments - the Bank's lead attorney Eamon Courtenay said he hopes the government can be forced to honour the debt.  

Eamon Courtenay - Attorney for Belize Bank
"The government has refuse to pay and as you know yesterday the Chief Justice said he wanted to know what is the answer from the government to the proposal for settlement. The government came with what I would describe as a disingenuous explanation today and I told the court that the government was not respectful of the court, it was not frank with the court, it was not honest with the court in its answers and I hope that Chief Justice treats their answer with the contempt that it deserves. The point is this, this is a case where the bank used money of depositors, this money of Belizean people deposited at the Belize Bank. Whatever politics the government wants to play with this, it is the depositors money that has been lent and therefore where the court says pay back this money, the government must pay back. The litigation is at an end, be honorable, be respectful and perform your duty. I hope that between now and the 11th of January when the decision is given that the government will take a â€â€￾ what I would describe as a refined and enlightened view and do the right and proper thing and not force the Chief Justice to have to decide whether he's going to make an order against the Minister of Finance, it is unnecessary. My client has said they are prepared to sit down and accept payment in installments, to accept payments in treasury notes, to accept it over time so it can be worked out."

Jules Vasquez
"You said the litigation is at an end but at a certain point you can't get blood out of stone. If the government continues to be what you all would call intransigent. What then happens? You cannot seize the reef for the sovereign assets of the country and you cannot imprison the Prime Minister, practically."

Eamon Courtenay
"Why can't you imprison the Prime Minister? Is he above the law?"

Jules Vasquez
"Absolutely not but I'm saying in practical terms, who would arrest the Prime Minister?"

Eamon Courtenay
"Chester Williams, he's afraid of the Prime Minister?"

Jules Vasquez
"I'm sure he's afraid of no man."

Eamon Courtenay
"Oh well so then there we have it. The point of the matter is we are being funny about a very serious matter right. Let me ask this question, what deal was cut by NEWCO with the government why they paid NEWCO? Who benefitted and why was that paid? What deal was cut with GDG Acquisitions and why was that paid? It seems that the government's position is that unless you come and cut a deal with them, you can take your judgement and tear it up. Whatever personal feelings may be between Mr. Barrow and Mr. Ashcroft, whatever personal feelings between any entities between them, the court has spoken and we must honor and respect the court. If not, the heavens will fall."

Government's attorney Ben Juratowitch did not avail himself for comment and left through the back.  He presented for the government in the Chagos case at the ICJ in September of this year.  

Judgement in this case will be delivered on January 10, 2019.

Notably, the Government says it is only just receiving notice of the proposal to settle the debt with Treasury Notes, while the Bank says it formally offered this months ago.

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