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Court of Appeal dismisses businessman's challenge of $45.6B withdrawal from NHT for budgetary support

The Court of Appeal has dismissed a claim brought by businessman Fitzroy Fagan challenging the withdrawal of $45.6 billion from the National Housing Trust (NHT) for budgetary support under the Portia Simpson Miller-led administration.
 
In February 2013, the then government tabled a bill to amend the NHT Act to permit four annual withdrawals of $11.4 billion.
 
Shortly after, Mr. Fagan, who is an NHT contributor, filed a claim challenging the constitutionality of the amendment.
 
He also applied for an injunction to restrain the NHT from handing over the funds to the Minister of Finance.
 
Three years later, on July 28, 2016, the Constitutional Court dismissed the claim and Mr. Fagan filed an appeal.
 
The Court of Appeal heard legal arguments from all the parties and on November 5 dismissed the appeal. 
 
The panel said it would give written reasons for the judgment at a later date.
 
Mr. Fagan was ordered to pay the NHT's legal costs. 


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