Five weeks ago we told you about the 12 hours of arguments AT the high court over the compulsory acquisition of Stake Bank.
Mike Feinstein challenged the legality of it - and the case brought together the leading lights of the legal profession:
Godfrey Smith SC with Hector Guerra, William Lindo and Mr. Edgar Lord
for Feinstein, Magali Marin Young and a battery of Trinidian Attorneys for the government, Dean Barrow with Agassi Finnegan for Stake Bank enterprises, and Eamon Courtenay with Iliana Swift for OPSA.
In the end, Justice GOONETILLEKE found against Feinstein. Eamon Courtenay for OPSA explained why:
Eamon Courtenay, SC, Attorney - OPSA
"The judge in a very comprehensive judgment found that he failed on both grounds. One, he felt he found that the law is constitutional. He did a thorough analysis of all the cases that were presented by all the sides that were appearing in the case, and concluded that the law was, in fact, constitutional, and that the argument by Mr. Feinstein that because there was no specific provision as to when he would get paid if his land was compensated, it was compulsorily acquired that it was unconstitutional. The court rejected that. Insofar as the proposed acquisition, Mr. Feinstein argued that it was not in the public interest that it was done in an abuse of power by the Minister, that it was done to benefit some private individuals."
"Once again, the judge did not find favor with any of those arguments. First, there was absolutely no abuse of power. Two, there was no improper purpose and three, there was no alternative."
"As I understand it from my clients, they are quite keen to move forward. It is now a decision for the Minister of Natural Resources to determine whether he's going to issue the second notice, because there are two steps. The first notice, which is a signal that I am intending to and that is what was challenged. The court has said what you are doing is lawful, proceed, or at least you're at liberty to proceed."
"If the minister publishes the second notice, it means that StaKE Bank, the extension, the portion that is in Mr. Feinstein's name, would immediately vest in the government."
"The government would pass it to the company, which would then free my clients to allow them to start continuing to do the financing of the project. Assuming, I mean, I haven't spoken to them for quite some time, but assuming that that's still their intention."
"I think it is important Jules, the judge went at great length to explain why it is in the public interest and necessary. Having looked at all the evidence, why it is necessary for this project to move forward by way of a compulsory acquisition. You know, the tens of millions of dollars in duties that have been foregone by the people of Belize essentially. And that is based on the investment that has been put in. There is a legislation that has been passed by the National Assembly that has been amended, I believe, in 2017, to further assess there is a definitive agreement between the government and Stake Bank to have this project move forward."
Feinstein must also pay the cost for the MINISTRY OF NATURAL RESOURCES, and THE ATTORNEY GENERAL OF BELIZE.
The Minister of Natural Resources is now free to gazette the second notice and conclude the acquisition.
Email
Print