By Karolina Kaminska From Alliance News

LONDON (Alliance News) – Caribbean Investment Holdings Ltd on Monday said it has won judicial recognition in the US of an international arbitration award received in the UK.

The London Court of International Arbitration award was rendered in London in 2009 against the government of Belize. Caribbean Investment then commenced proceedings in Washington in 2014 to enforce the award.

The US District Court granted enforcement of the award in favour of Caribbean Investment and rejected all of the Belize government’s challenges to the award in 2015.

The government of Belize then appealed to the US Court of Appeal which affirmed judgement in favour of Caribbean Investment in 2016.

Following this, the Belize government sought review by the US Supreme Court which on Monday rendered judgement in favour of Caribbean Investment as final and not subject to further judicial review.

“This victory clears the way for Caribbean Investment Holdings to collect on the judgement against the government of Belize. That judgement, including interest, is currently worth approximately USD27.5 million,” the company said in a statement.

Shares in Caribbean Investment closed up 4.2% at 9.90 pence on Monday.

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For more on this story go to: http://www.lse.co.uk/AllNews.asp?code=whou2you&headline=Caribbean_Investment_Wins_Judicial_Recognition_Of_Arbitration_Award

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