{"id":174596,"date":"2023-05-29T07:13:30","date_gmt":"2023-05-29T11:13:30","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=174596"},"modified":"2023-05-29T07:13:30","modified_gmt":"2023-05-29T11:13:30","slug":"global-bank-of-commerce-creditor-sues-antiguas-ag-for-breaching-contract-to-redeem-10m-t-bill","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/global-bank-of-commerce-creditor-sues-antiguas-ag-for-breaching-contract-to-redeem-10m-t-bill\/","title":{"rendered":"Global Bank of Commerce creditor sues Antigua\u2019s AG for \u2018breaching contract to redeem $10M T-Bill\u2019"},"content":{"rendered":"
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REAL NEWS: Jack Stroll, the Canadian resident who sued the Global Bank of Commerce last year, is reported to have filed another lawsuit \u2013 this time against Attorney-General Steadroy \u201cCutie\u201d Benjamin, representing the Government, for breaching a consent order.<\/p>

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According to news released by Offshore Alert on Tuesday, May 23, the Government has failed to honour its agreement to satisfy a US$10 million Treasury bill that was intended to settle a debt to Global Bank.<\/p>\n

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The matter stems from Stroll\u2019s inability to withdraw his money, in full, from the offshore bank and his subsequent refusals \u2013 according to Finance Minister Gaston Browne \u2013 to accept other instruments of payment over time.<\/p>

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Browne had referred to Stroll as being greedy and accused him of having a political agenda in demanding his money, and admitted that the funds were tied up in national development. \u00a0What development projects these were was never articulated.<\/p>

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After the depositor sued both Global and head of the bank Brian Stuart-Young, the Browne Administration undertook to repay the funds by a certain date, reportedly January 6, this year, which came and went allegedly without payment being fulfilled.<\/p>\n

What will happen now is not clear. \u00a0However, some pundits claim that Stuart-Young will become liable for the debt, while others say the country\u2019s accountant-general might be held responsible for repayment.<\/p>

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Again, locals are speculating that the Browne Administration is depending on money realized from the sale of the\u00a0Alfa Nero<\/em>\u00a0yacht to settle this debt, since other attempts to float a bond on the international market have not been successful.<\/p>\n

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REAL NEWS: Jack Stroll, the Canadian resident who sued the Global Bank of Commerce last year, is reported to have filed another lawsuit \u2013 this time against Attorney-General Steadroy \u201cCutie\u201d Benjamin, representing the Government, for breaching a consent order. According to news released by Offshore Alert on Tuesday, May 23, the Government has failed to […]<\/p>\n","protected":false},"author":3,"featured_media":123512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-174596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nGlobal Bank of Commerce creditor sues Antigua\u2019s AG for \u2018breaching contract to redeem $10M T-Bill\u2019 - 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\/global-bank-of-commerce-creditor-sues-antiguas-ag-for-breaching-contract-to-redeem-10m-t-bill\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global Bank of Commerce creditor sues Antigua\u2019s AG for \u2018breaching contract to redeem $10M T-Bill\u2019\" \/>\n<meta property=\"og:description\" content=\"REAL NEWS: Jack Stroll, the Canadian resident who sued the Global Bank of Commerce last year, is reported to have filed another lawsuit \u2013 this time against Attorney-General Steadroy \u201cCutie\u201d Benjamin, representing the Government, for breaching a consent order. 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