2 months ago, we told you how Chief Justice Kenneth Benjamin discharged the temporary injunction that the Government of Belize had gotten in the Belize Courts to block the Ashcroft Alliance from enforcing the approximately 50 million US dollars in the US Courts.
So, with that one barrier out of the way, the battle over enforcement of the mega judgement is continuing in the US Court.
The latest news now is that a Turks and Caicos company, Midway Investments Limited, went before a DC Federal judge on Wednesday to ask that it be substituted in enforcement case. If successful, it would replace for BCB Holdings Limited - now known as Caribbean Investments Holdings Limited - and Belize Bank Limited as the holder of the award against Belize.
Midway's attorneys attempted to convince the DC Federal Court judge that Belize's arguments on the case clearly demonstrate why they must be substituted as the petitioner in the place of Belize Bank and BCB Holdings.
In its reply in the case, Midway, said, "quote, "It is obvious from the record that the only way Midway, the real party in interest, can enforce this court's judgment in light of the GOB's continuing efforts to prevent enforcement of that judgment is to grant Midway's motion."
So, that's where it is; this company, Midway Investments, is seeking the court's recognition that that it is the real owner of the multimillion-dollar award against Belize - and not Belize Bank and Caribbean Holdings Investment Limited.
News sources out of the US say that Belize opposed this change because Midway will not be subject to the jurisdiction of the Belize Courts, since it is registered in Turks and Caicos. Midway, however, is reportedly a subsidiary of Caribbean Investment Holdings Limited.
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