Sep 2005 Financial News

Stay granted in Mora Ven case

Sep 08, 2005

Appeal Court Judge Ivor Archie has granted an interim stay of execution to Dr Krishna Persad, who was taken to court on six fraud charges brought against him by Mora Ven chairman George Nicholas.

Archie, presiding in the Court of Appeal on Monday, granted the stay which was filed by Phelps and Co, blocking San Fernando magistrate Rajendra Rambachan from continuing the proceedings against Persad.

An order was made by HIgh Court judge Rajendra Rambachan from continuing the proceedings against Persad.

An order was made by High Court judge Rajendra Narine, calling on Rambachan, who had discharged Persad in December 2003 after upholding Gilbert Peterson's no-case submission, to reconsider that decision.

The stay was granted for a seven-week period, pending the hearing of Persad's October 24 application for a stay of execution. Rambachan then adjourned the matter to October 28.

Reshma Ragoonath
Page 10,
The Trinidad Guardian
Thursday, 8th September, 2005.