Home Headlines U.S. District Judge authorizes Belize Bank to seize property owned by GOB

U.S. District Judge authorizes Belize Bank to seize property owned by GOB

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The Belize Bank Limited has won another round of legal battle in a foreign court. Love News has confirmed that the Belize Bank Limited has won an enforcement order from U.S. District Judge Amit P. Mehta. The decision was handed down on Monday and is in relation to the multi-million dollar UHS judgment against Belize. The order by U.S. District Judge Amit P. Mehta authorizes Belize Bank to seize property owned by the government of Belize “in the jurisdictions where such attachment or execution is appropriate,” according to the order. Last year the CCJ overturned the decisions handed down by Belize’s Supreme Court and the Court of Appeal, ordering that the Government of Belize pay the Belize Bank some thirty six million Belize dollars as at September 7, 2012 plus interest at seventeen percent compounded on a monthly basis from September 8, 2012 until the date of payment plus costs.In this matter, the then Musa Government had guaranteed a loan by Universal Health Services at the Belize Bank.  The UHS defaulted on their loan and the Government, as the guarantor was being forced to pay the loan.  When the Barrow administration took over, they refused to honor that guarantee which led the Belize Bank Limited to seek legal recourse, which has resulted in several legal battles. The Government has also passed the Crown Proceedings Act which protects Government’s properties from being claimed in such court cases.

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