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Belize City, Belize Central America

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There is nothing for Belize Bank to seize, says Attorney General

In related news, two weeks ago U.S. District Judge Amit P. Mehta authorized the Belize Bank Limited to seize property owned by the government of Belize in order to satisfy the $90 million UHS Debt. This ruling was expected says Belize’s Attorney General. While it is a ruling against the Government, Michael Peyrefitte, says it is an empty judgment because there isn’t any property for the Belize Bank Limited seize.

Michael Peyrefitte, Attorney General: “We expected it to go the way it did, we don’t expect the American Courts to rule in our favor. They have demonstrated a pattern that they don’t even respect the CCJ which is our final court so it’s no surprise for us but we have as far as I know we don’t have any assets to crowfoot. I’m also aware of the fact that they’ve been trying to do this for some time and we expected that at some point they would attempt to do this. So like I said it comes as no surprise but we don’t have any assets abroad that they can crowfoot and I pretty much would like to say that it’s an empty judgment. Under the Geneva Convention the Embassies are off limits completely and we’ve already established very clearly that Central Bank and Government are two different things. So they cannot touch any of the assets that have to do with the Central Bank and the embassies and I believe of the embassies we own like two of them, I think the one in London and the one in Washington DC I’m not sure, I also think maybe the one in Mexico but those embassies for example cannot be touched they are considered property physically in Belize for the purposes of diplomatic understandings but like I said we expected them to do that and we are not worried about any assets being out there that they can crowfoot because we believe there is none.”

The ruling was made on Monday, March 12.
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