The Cabinet says it has been informed that the Eastern Caribbean Supreme Court handed down a judgment on Wednesday in favour of Leroy King.
He has been granted leave to appeal the High Court judgment.
According to government’s Chief of Staff, Lionel Hurst, the next hearing, followed by a period of decision-making or judgment, may be as long as two years from this date.
King is wanted by U.S authorities, accused of fraud in relation to the Stanford Ponzi scheme.
Mr King was charged as a co-conspirator with Mr Allen Stanford and a number of other persons.
In April, King challenged a High Court ruling barring him from applying for judicial review of an earlier decision to extradite him to the US for a criminal trial.