Today at ten past 5:00 two days of highly technical legal arguments between government and the Belize Bank ended in the Supreme Court. They are arguing over jurisdiction: whether the matter of the $10 million in Venezuelan money should be heard in Belizean courts of before a British tribunal. It’s a consequential difference, both logistically and tactically: the Belize Bank has pronounced advantages if it is arbitrated in the UK, while the Solicitor General’s office is better on its home turf. But keeping it in perspective, one of government’s attorneys Michael Young says that the reason they are in this mess is because the former Prime Minister and Attorney General agreed to foreign arbitration.
Michael Young, Attorney for the Central Bank
“The arbitration agreement of 2007, which was signed by the Prime Minister and the Attorney General as I recollect, was very very wide. The language was quite wide. So really, it is they have us here today in this situation. We have sought and argued and worked very hard to make our submissions effectively to the court, to convince the court that even though that arbitration clause is there and that it is extremely wide, because of the nature of the claim which is the subject of this Supreme Court’s action, it is not a matter that should arbitrated either in a foreign jurisdiction or particularly by an arbitral tribunal.”
Jules Vasquez,
They said in there it is about the constitution and it is about the money, things which the constitution, they feel that your side hasn’t paid enough attention to or hasn’t respected sufficiently.
Nick Pleming, Attorney for Belize Bank
“That I would certainly disagree with. We have a very great respect for the constitution and the provisions of the constitution must be interpreted
correctly. That would be unfair and of course at the end of the day, the decision for the arbitral tribunal or the Supreme Court here, that will be the final view on what the constitution means. There is no disrespect at all.”
Tanya Herwanger, Solicitor General
“I still maintain the hope that Chief Justice will accept our arguments and see it our way and refuse to grant the stay. That would mean that the proceedings get to stay in Belize and we get to argue about the $10 million. I do have to say it has been a difficult case. And I say that on both sides, I don’t think it was any easier for the bank making its arguments. But I am still very hopeful that the Chief Justice will see it our way at the end of the day.”
Michael Young,
“If we go to England then that’s of course a far jurisdiction, over many miles. We’d have to engage foreign solicitors and perhaps even barristers to advocate on our behalf, even in relation to the arbitration proceedings.”
Nick Pleming,
“If you contest cases on the basis that it should be a different forum, it is less important, yes.”
The Chief Justice has reserved judgement until a later date.
