Feinstein Group to Appeal High Court Ruling on Stake Bank Acquisition

The Feinstein Group will be appealing yesterday’s High Court ruling that affirmed the Government of Belize’s intended compulsory acquisition of 23.4 acres of Stake Bank Island. The land was the subject of a legal challenge after the government moved forward with plans to acquire the property for what it argued was a legitimate public interest.  In a judgment delivered yesterday, Justice Rajiv Goonetilleke ruled that the acquisition was constitutional and for a valid public purpose, dismissing Feinstein’s claim. The government had initiated the process with a notice published in the Gazette in August 2024 and was preparing to finalize the acquisition when the court temporarily halted the move pending the outcome of the case. Despite the setback, the Feinstein Group remains resolute. In a statement following the ruling, the company said it views the decision as a “temporary setback” and is confident that the case will succeed on appeal. Feinstein emphasized that as a Belizean company that has invested in Stake Bank for over 20 years, it is determined to continue its fight against the acquisition. Feinstein’s legal team, led by Senior Counsel Godfrey Smith, argued that the acquisition lacked a genuine public purpose and was instead intended to resolve a private dispute involving the Honduran company OPSA. The group remains convinced that the compulsory acquisition is unconstitutional. The Feinstein Group has instructed its attorneys to immediately file an appeal with the Court of Appeal. The company believes the judgment needs to be challenged to clarify the law and prevent arbitrary acquisitions by the government in the future.  With the appeal now underway, the future of the Stake Bank Island project remains uncertain, especially in light of recent announcements by Prime Minister Briceño regarding major developments at the Port of Belize over the next five years.