The BTL Arbitration issue continues and today the parties were back in court. Two issues that the parties could not agree on were what percentage of the payments should go to public funds and the currency in which the payments should be made. The Caribbean Court of Justice held a hearing at the Supreme Court this morning where Senior Counsel Eamon Courtney, representing the Ashcroft Alliance stated that they are filing for the government to make all payments in US dollars. Courtney also stated that the court’s resolution was for the parties to settle the matter outside of court.
Attorney representing the government in the BTL Arbitration case, Senior Counsel Denys Barrow, stated the government’s position. He said government opted to make the payment in mixed currencies for the benefit of the domestic economy because the country does not have enough US currency in its treasury. Courtney refutes that saying that it is a matter of the government choosing to pay other debts instead.
As the court has suggested that the parties settle the matter outside of court, Barrow stated that the government is willing to settle but it is up to the other party.
If the two parties cannot reach an agreement, they return to court next week for a decision.