Government has the US$10 million Venezuelan money safe in hand, but the battle
for its ownership continues, and like any good - or bad – love affair
it ain’t over, till it’s over. And so the Belize Bank was back in
court today arguing that it should get back the money or more, specifically,
that the Central Bank had no right to direct the bank to return it to government.
The hearing was held this morning at the Supreme Court before the Central Bank
and Financial Institutions Appeals Board in Justice Awich’s courtroom.
The bank’s attorney Andrew Marshalleck argued that the Central Bank could
not issue a directive telling the bank to return the money. And that’s
because no determination had been made establishing that government was entitled
to the money. A substantial point, but his was just a preliminary matter and
the case will not be heard by the board until December. At that time it may
or may not be open to the public and the press.