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Here's how attorneys for both sides described it today:...

Eamon Courtenay - Attorney for the British Caribbean Bank
"The court of Appeal had dismissed the application for the injunctions, and you will remember that what the Caribbean Court of Justice had said was that Telemedia was not to deal with the question of dividends before December 14, which is today. We came to court this morning, and Mr. Barrow informed the court that at 8:05 this morning, Belize Telemedia apparently paid out the dividends. I think that you were present in court, and you can see that the court - to quote the president - is very troubled by what has happened. The president went further and said that it should not have happened. The truth of the matter is that what we have here is a continuation of the rogue-like behavior. It is that the Government of Belize believes that they are above the law. The Supreme Court of this country, and the Court of Appeal of this country have ordered that the legislation by which they have compulsorily taken possession of the property is unconstitutional. Nevertheless, they remain in control of this property, and this company, and now they are - in the face of a court order - attempting to pay out the money. You saw the court ordered them to pay back the money by 2 o'clock this afternoon, and Mr. Barrow, attempting to tell the court that he could not assure them that it will be done by 2 o'clock. I think that he tested the patience of the court, and eventually the court said that it must be paid by 2 o'clock this afternoon, and we will deal with this in January."

Godfrey Smith - Attorney for Dean Boyce and Trustees Of the Employees Trust
"The court stopped short of holding the Government in contempt, but left no doubt in anybody's mind. The President's opening words were that its role as the final court of appeal in Belize was not being respected. Shortly after that, the President also mentioned that the Government had not acted as it should in this matter. So, it did not hold the Government in contempt, but effectively, the dramatic and natural decision that the Government repay the money, an equivalent amount, is sufficient sign for everyone to see that it takes very seriously, what the Government has done."

Eamon Courtenay
"You heard the president of the Caribbean Court of Justice this morning. He said that what the Government did should not have happened. That is what he said, and he meant it, and he was being diplomatic. Let me tell you this. If it wasn't the Government of Belize; if it were some private person, you'd be hearing contempt and jail. The Caribbean Court of Justice sent out an order roughly at around 4 o'clock yesterday saying that they were going to hear this matter, urgently this morning. So, the Government knew fully well that this matter was coming before the court at 10 o'clock this morning. To pretend - to pretend - that they can get away, and act with contempt and in defiance of the rule of law, what you saw play out this morning was the Caribbean Court of Justice restraining itself, and saying, 'Listen, you are troubling us with what you're saying. Pay the money by 2 o'clock, and put it into an account so that we can adjudicate on this matter, as we ought properly to have done."

Denys Barrow - Attorney for GOB
"No, that's a great overstatement. The word 'contempt' was not even mentioned in these proceedings. What the court did was that they decided, 'Listen, what Telemedia has done renders our function embarrassing, that if this money is not there, and the application concerns this money, then we are wasting our time. So as not to waste our time, put back this money, or put back an equivalent sum of money escrow. That was it basically"

Isani Cayetano - Channel 5 News
"Is it doable by 2 o'clock this afternoon? I know that you were mentioning that this might not be so because of certain legal requirements persay. Is it doable now that they have ordered that it be done by 2?"

Denys Barrow
"I really don't know. As I told the court, I have doubts that Government finances operate in that fashion. But if it is not doable, then whatever is appropriate, whatever will be satisfactory to the CCJ will be done by the Government. So, there is not really any big issue. It's a question of methods of doing it, but an appropriate measure will be taken."

Daniel Ortiz
"As representative for the Government, do you feel as though Telemedia acted inappropriately?"

Denys Barrow
"No, I don't feel so. Telemedia had the benefit of the decision of the Court of Appeal. The Court of Appeal said that that injunction that British Caribbean Bank and Boyce were seeking is refused. So, Telemedia, in my view, was perfectly entitled to take the view - obviously not shared by the CCJ, and I respect the CCJ's view, but I am telling you that as far as I am concerned, Telemedia was perfectly entitled, 'Okay, the Court of Appeal has spoken, and therefore, I, Telemedia, can now act as the law and as our obligations as a company require us to act."

Eamon Courtenay
"The long and short of it is this. Even though the Court of Appeal has handed down its decision down its decision, it didn't give us the reasons. And therefore, we have to see the reasons to see whether or not there is a further appeal to be had. And that is why the CCJ they will hear this morning to preserve the positions. So, hopefully now, we will get the reasons shortly."

Daniel Ortiz
"There are small shareholders who are being affected by this back and forth. What is the Government's position in relation to those shareholders who are not a part of this litigation, but are being dragged into it?"

Denys Barrow
"Well, it's not the Government's position; it is the position of Lord Ashcroft's companies. They are taking the view that if the small man gets bruised or crushed, then that is by the way. That is their view, so carving out an exception and saying, 'Let them be paid,' never occurred to them. So, it really is an unmerciful position so far as the small man is concerned, so far as the unions which hold some shares is concerned."

And the latest development is that before the 2:00 pm deadline, Government's Attorney, Denys Barrow wrote to the registrar of the CCJ - saying that all payments have been arrested and all monies are in the account. That come-uppance though is not satisfactory to the Ashcroft Alliance, and the matter will go back to court on Monday, we understand.