CCJ allows appeal in Belize case: No fraud by Caye Bank and Nagel
The Caribbean Court of Appeal has granted an appeal in the matter of Caye International Bank Limited (CIB) and Joel M Nagel v Tommy Lynn Haugen.
The matter started in the Supreme Court of Belize when Tommy Haugen filed a claim against CIB and Mr Nagel for breach of contract and fraud. The Honourable Mr Justice Courtney Abel found CIB and Mr Nagel liable for breach of contract and fraudulent misrepresentation and ordered CIB and Mr Nagel to pay damages in the sum of USD$200,655.
After the Supreme Court judgment was given, CIB and Mr Nagel filed an appeal at the Court of Appeal in Belize. That court originally dismissed the appeal, but substituted the Supreme Court order for an order that the contract be rescinded on the grounds of fraudulent misrepresentation and that CIB and Mr Nagel pay the sum of USD$200,655 to Mr Haugen as a consequence of the rescission.
CIB and Mr Nagel then filed an appeal with the CCJ against the Court of Appeal's decision. During oral argument before the CCJ, the parties came to an agreement. With the consent of the parties and having considered there were no sustainable bases for a finding of fraudulent misrepresentation, the CCJ ordered that the appeal be allowed.
The court also ordered that the decision of the Court of Appeal be set aside. Additionally, on the issue of breach of contract, the court ordered the matter be set aside to the Supreme Court for assessment of damages to be heard by a judge of that court.
The matter of costs is to be decided at a later stage.
The Court was comprised of the Hon Justice Wit, Hon Justice Anderson, Hon Justice Rajnauth-Lee, Hon Justice Burgess and the Hon Justice Jamadar.