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The Belize Bank and the Central Bank went to the Supreme Court this afternoon. But it wasn’t for a regular hearing, they went to make their case before the Central Bank’s Board of Appeal. The Board of Appeal which is chaired by Justice Samuel Awich convened its first meeting ever in the judge’s courtroom. Awich sat with board members Jaime Alpuche and Jeffrey Locke. The Belize Bank was represented by lead counsel Andrew Marshalleck while the Central Bank was represented by Lois Young.

The Belize Bank is asking the board of appeals for two things: a suspension of any action to enforce the Central Bank’s March directive and a stay of other proceedings before the appeals board until other arbitral matters are settled in London. Weighty and convoluted matters, but we can’t tell you how it went because very early on into the proceedings, the Belize Bank requested that the hearings be held in-camera, meaning, closed to the public and the press.

The bank’s attorney Andrew Marshalleck says that’s because the hearing comes after a special examination of the Belize Bank by its regulator which is the Central Bank. And the Belize Bank’s position is that the confidentiality of its clients could be breached if the hearing is held in open court. Lois young argued against it, but after a short recess Chairman Awich ruled that the hearing will be held in camera.

With that, the press was asked to leave the courtroom. So, at this time all we can tell you was that it was adjourned sometime after 5:15 pm and will continue tomorrow.