{"id":158105,"date":"2022-08-20T09:02:28","date_gmt":"2022-08-20T13:02:28","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=158105"},"modified":"2022-08-20T09:02:28","modified_gmt":"2022-08-20T13:02:28","slug":"lovell-says-it-would-be-prudent-for-bank-official-named-in-lawsuit-to-step-aside-until-high-court-has-settled-the-matter","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/lovell-says-it-would-be-prudent-for-bank-official-named-in-lawsuit-to-step-aside-until-high-court-has-settled-the-matter\/","title":{"rendered":"Lovell says it would be prudent for bank official named in lawsuit to step aside until High Court has settled the matter"},"content":{"rendered":"
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REAL News: Harold Lovell, Political leader of the United Progressive Party (UPP), believes the Chief Executive Officer of the Global Bank of Commerce Ltd. should step aside until a recently filed legal matter is heard in the court.\u00a0CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.<\/strong><\/p>

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According to documents filed in the High Court\u00a0of\u00a0Justice on June 27, 2022,\u00a0a resident of Jolly Harbour is seeking payment of \u00a32.67 million and\u00a0US$9.2, or the equivalent in Eastern Caribbean Dollars, with respect to deposits made.<\/p>\n

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Allegedly, the\u00a0bank\u00a0has failed or refused to pay the depositor in spite of his numerous demands\u00a0for\u00a0the transfer\u00a0of\u00a0all funds owing to him, and the defendants\u00a0reportedly have admitted they are unable to satisfy them.<\/p>

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Accordingly, Lovell believes that the bank official being sued \u2013 Ambassador Brian Stuart-Young \u2013 should step away from the institution until the court has settled the matter.<\/p>

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He makes it clear that he is not suggesting the banker is guilty of any wrongdoing; however, stepping down would be the proper thing to do, he says.<\/p>\n

Further, Lovell says, the Financial Services Regulatory Commission (FSRC) should have some interest in this matter.<\/p>

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The UPP Political Leader says this situation has the potential to undermine the bank \u2013 which no one, including himself, would wish to see happen.<\/p>\n

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Lovell is calling on the Administration to be responsible in the way it handles this situation \u2013 especially since Prime Minister Gaston Browne has already publicly attacked the depositor for suing to recover his own money.<\/p>

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Last weekend, Browne said on radio that the man\u2019s deposits were tied up in \u201cnational development.\u201d However, Lovell says it is any depositor\u2019s right to withdraw his money from a bank, following the procedures in place to do so.<\/p>

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REAL News: Harold Lovell, Political leader of the United Progressive Party (UPP), believes the Chief Executive Officer of the Global Bank of Commerce Ltd. should step aside until a recently filed legal matter is heard in the court.\u00a0CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES. According to documents filed in the High Court\u00a0of\u00a0Justice […]<\/p>\n","protected":false},"author":3,"featured_media":148913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-158105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nLovell says it would be prudent for bank official named in lawsuit to step aside until High Court has settled the matter - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/lovell-says-it-would-be-prudent-for-bank-official-named-in-lawsuit-to-step-aside-until-high-court-has-settled-the-matter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lovell says it would be prudent for bank official named in lawsuit to step aside until High Court has settled the matter\" \/>\n<meta property=\"og:description\" content=\"REAL News: Harold Lovell, Political leader of the United Progressive Party (UPP), believes the Chief Executive Officer of the Global Bank of Commerce Ltd. should step aside until a recently filed legal matter is heard in the court.\u00a0CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES. 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