Global Bank of Commerce creditor sues Antigua’s AG for ‘breaching contract to redeem $10M T-Bill’

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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 – this time against Attorney-General Steadroy “Cutie” 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 honour its agreement to satisfy a US$10 million Treasury bill that was intended to settle a debt to Global Bank.

The matter stems from Stroll’s inability to withdraw his money, in full, from the offshore bank and his subsequent refusals – according to Finance Minister Gaston Browne – to accept other instruments of payment over time.

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.  What development projects these were was never articulated.

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.

What will happen now is not clear.  However, some pundits claim that Stuart-Young will become liable for the debt, while others say the country’s accountant-general might be held responsible for repayment.

Again, locals are speculating that the Browne Administration is depending on money realized from the sale of the Alfa Nero yacht to settle this debt, since other attempts to float a bond on the international market have not been successful.

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8 COMMENTS

  1. He should sue Gaston, Cutie and Stuart-Young. They are the ones involved. What does the Accountant General have to do with it? Did he use the money? Don’t understand how a bank can allow Gaston to use people’s money for national development. It shows that Gaston has hands are in everything involving money.

    • How come the poor duncee head Antigua people must pay tax money of $10,000,000.00usd to this white man on behalf a Gaston white partner? He a rub shoulder with white people and want feel he a impress them, they must be saying deep inside that black fool putting wealth in my hands like how 400 years of wealth extraction through our blood sweat and tears did.

  2. What is the matter with this Prime Minister, the worst to have been inflicted on the people of Antigua and Barbuda? How can his government find monies to pay a $10,000,000 debt and yet are unable to pay outstanding debts for years to its citizens? He has the gall to say ” Stroll is being greedy and accused him of having a political agenda”. This man has a barefaced cheek to put it politely. It’s the man’s money and he is entitled to get it. Stroll wasn’t poor one minute and rich the next as Browne is. We shouldn’t be surprised though, we’ve been here before with Ms Querard of Half Moon Bay when she sought monies due to her by his government. Remember what our Marvelous Prime Minister said then: “She doesn’t need the money”. This man has an infernal cheek. Antigua must surely be paying for past sins which have now come back to haunt it.

    • And Antigua itself had nothing to do with what money this punzey scheme this Stuart young running at all. But here comes Gaston to his white friend assuring him that he will make the inference on air that the government is in financial dealings and liability to global bank so the stupid black tax payers can pay back that money to the Canadian and save Stuart young from extradition to jail abroad.

  3. No wonder the country always seem to run out of money.

    Can anyone guess the two men that have destroyed Antigua’s economy; infrastructure; finances (by self-enrichment); and then go on to make Antigua & Barbuda standing on the world’s stage look ridiculous and infantile?

    That’s right! Lester ‘Spineless’ Bird and Gaston ‘Dance Abroad’ Browne.

    Over 40 years of Birdism and Browneism has brought the country to its knees – Lord help we!

    SADLY, IT LOOKS LIKE IT’S GOING TO TAKE A GENERATION – OR TWO – TO PUT RIGHT!

    MAYBE THERE’S HOPE FOR OUR GRANDCHILDREN!

    • Gaston Browne is the worst finance minister and PM ever in Antigua and Barbuda’s history. His hands are in everything as the country leaks billions. Questions must be asked in time of this incompetent, inept clown. Asot asserts that Gaston had nothing prior to 2014, so isn’t it logical to say he has enriched himself with tax payers money? It will all come out, eventually. I hope all politicians and civil servants who are involved be made to answer for their treachery.

  4. People stay tuned!
    Oh what a tangled Webb we weave when our government tries so hard to deceive..
    It will all come out hopefully sooner than rather than later..
    Happy. Whit Monday everybody!

  5. Oh what a tangled web we weaved.When we as a People elected those people into higher offices of State.The Passport Man,the same man who held onto his client’s money for over 3 years.

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