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Senate Debates Payment to Lord Ashcroft

Yesterday Senator also debated the motion to approve millions of dollars in payment to Belize International Services Ltd. (BISL). As we’ve been reporting, this is a result of the unlawful nationalisation in 2013, by the then UDP Administration, of the ships and companies registries, and the subsequent judgment by the Caribbean Court of Justice (CCJ) in July 2020 against the government. Following a comprehensive Cabinet review of the matter and the Cabinet’s decision to resolve this outstanding public debt and uphold the rule of law, the Prime Minister and Minister of Finance John Briceño signed a Settlement Agreement with BISL, which caps damages at the equivalent of US$38.25 million. Previously, BISL had sought compensation of over US$70 million.  Here is a portion of the debate