$100 million UHS case awaiting decision

BBN Staff: The UHS case involving a $90 million judgement owed to the Belize Bank by the government of Belize went back to Supreme Court this week. The hearing began on Wednesday and continued on Thursday with lawyers from both sides making arguments on the settlement of the award handed down by the Caribbean Court of Justice (CCJ) last year.

Attorney for the Belize Bank, Eamon Courtenay told the media that because of a 6% interest that continues to accrue on the outstanding debt, the total of the award is close to $100 million now. Prime Minister Dean Barrow and several Cabinet ministers have publicly stated that they have no intention of paying the award on the UHS judgement. The UHS agreement was signed by the People’s United Party under the past Said Musa administration.

According to Courtenay, the Financial Secretary Joseph Waight told the court that the government can make the payments in installments and can use a combination of some cash and Treasury Notes to make the payments. Courtenay said the Belize Bank offered a proposal to the government to pay in installments but said government did not respond to their offer. Waight was told by Chief Justice Kenneth Benjamin to discuss the offer with the Prime Minister and come back with a response for the court.

Courtenay complained on Thursday that the government was not being honest with the court and said it is time for them to do the honorable and respectful thing by paying up. Waight was not in court on Thursday. The matter has been adjourned until January when the CJ will hand down a decision on the matter.

 

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