ATTORNEY FOR BANKS Holdings Ltd, Barry Gale, QC is putting the drink manufacturing company’s side before Chief Justice Sir Marston Gibson this morning as the legal battle continues.
The legal bidding fight began yesterday in the No.1 with the hearing of an injunction filed by ANSA McAL.
During that four-hour sitting yesterday the court heard from Trinidadian senior counsel Reginald Armour who is appearing in association with Queen’s Counsel Patterson Cheltenham for ANSA.
The legal action flows from a bid for control of the well-known brewery by Brazilian beverage giant Ambev, through its subsidiary, the St Lucian SLU Beverages Ltd.
ANSA is contesting a clause in an agreement between BHL and Latin Capital Fund/SLU which states that anyone getting more than 25 per cent control of BHL, SLU would have the right to compel that they would have to pay what has been worked out at $10 per share premium.Â
ANSA MCAL filed the injunction last week blocking the takeover of the company that has produced some of Barbados’ award winning alcoholic drinks along with juices and milks.
This morning the court is also expected to hear from Roger Forde QC who appears along with Gale.
SLU, which first launched the takeover bid, is represented by Queen’s Counsel Dale Marshall and Khamaal Collymore. Queen’s Counsel Garth Patterson is appearing for the ANSA bidder.
Sir Henry Forde, QC appears for the Barbados Stock Exchange while Adrian King and Cyrilene Benskin Murray hold a watching brief for the Financial Services Commission. (AC)
