Posted: Tuesday, March 14, 2017. 3:28 p.m. CST.
By BBN Staff: Chief Justice Kenneth Benjamin, this morning, said that the Government of Belize (GOB) and Michael Ashcroft’s Belize Bank Ltd. will need to return to court on April 12 for his decision in their injunction hearing.
The Chief Justice set the date at the end of a two day trial, which discussed lifting an injunction that barred Ashcroft’s company from enforcing a US $50 million arbitration award, or making the injunction permanent.
During the the time leading up to the decision, the injunction, which was granted by Justice Michelle Arana, will remain in force.
Attorney for GOB, Denys Barrow, said that Government has no foreign assets that Ashcroft’s companies can attach; so if the bank would give an undertaking to disclose how it intends to try and enforce the award, the government would drop the injunction case.
Attorney for Belize Bank, Eamon Courtenay said that if GOB doesn’t have any assets, then the entire injunction hearing was unnecessary. He questioned the relevance of allowing the injunction to continue, if there are no assets to attach.
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