Administration, Financial & Sales Division - Citrus Research & Education Institute
BCGAICL in Claim 738 of 2010 against Banks Holdings Ltd
On May  26th 2011, Madam Justice Hafiz-Bertram delivered judgment in an application made by the Belize Citrus Growers Association Investment Company Ltd. (BCGAICL) in Claim 738 of 2010 against Banks Holdings Ltd.

BCGAICL brought the application to determine the validity of resolutions made by Citrus Products of Belize Limited (CPBL) at an extraordinary general meeting held by CPBL on the 17th December, 2010.  One of the resolutions terminated the employment of Dr Henry Canton as Chief Executive Officer (CEO) of CPBL.  Despite being terminated by CPBL, Dr Henry Canton is still acting as CEO of CPBL.  Justice Hafiz-Bertram ruled that at this interim stage, the balance of convenience did not lie in her determining the validity of the resolutions of CPBL which include the termination of the employment of Dr Henry Canton as CEO of CPBL.  Rather, Justice Hafiz-Bertram ruled that the balance of convenience lies in fast tracking the hearing of the substantive claim between Banks Holdings Ltd, the minority shareholder in CPBL, and BCGAICL, the majority shareholder.  Banks Holdings Ltd was directed to file its claim on or before 3rd June, 2011.  BCGAICL informs all citrus growers of this ruling and will be advising members of the Citrus Growers Association to participate in all decisions to be taken to address the issues surrounding CPBL, including fresh legal action if necessary, to be taken outside the framework of Claim 738 of 2010.

The attention of all citrus growers and stakeholders is called to this press release.
 

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