Today is ‘answers’ day for Stuart-Young and GBC in compliance with court order in Stroll case

Brian Stuart-Young, chief executive officer of the Global Bank of
Commerce (GBC), has until today, March 15, to respond to a slate of
questions regarding his assets and the bank’s ability to repay its
depositors.
  
Based on a court order dated February 23, 2024, Stuart-Young has to
answer over 100 questions – in writing – pursuant to the Civil
Procedure Rule (CPR) 44.7.

For years now, depositor Jack Stroll has been trying to withdraw his
millions from the GBC – and was criticized for being “greedy” and
politically motivated for doing so by Prime Minister Gaston Browne.

 
Accordingly, Stroll took the matter to the High Court, where
judgment was made against the offshore bank and its CEO.

However, Stroll’s lawyers believe that Stuart-Young gave a false
statement to the court, under oath, about Global’s ability to repay,
since its promise to do so has not materialized.

In relation to the subsequent court action, Justice Rene Williams has
ordered that Stuart-Young respond to questions posed by the
depositor’s attorneys and provide supporting documentation.

The CEO has to provide information on the bank’s various assets,
and he must indicate whether any assets held in the name of the
GBC or its subsidiaries – or any part thereof – have been transferred
since the investor’s initial request for withdrawal of his money in
December 2020.

Other questions put to Stuart-Young seek information about his and
his wife’s personal finances and the specific ownership of their
assets.

All answers have to be filed with the Court by 4 p.m. today, Friday,
and should have been sworn under oath.

If the CEO fails to provide all the requested documentation, the
matter will be referred back to the Court for oral examination of the
judgment debtors – GBC and Stuart-Young – forthwith.   

Additionally, pursuant to part 53 of the Civil Procedure Rules (CPR)
2023, the bank and its CEO have been placed on notice that if either
fails to comply with the terms of the court order, proceedings may
be commenced for contempt of court.

Stuart-Young may also be liable to imprisonment or to have an order
of sequestration made with respect to his property.

Meanwhile, as recently as yesterday, March 14, Stroll tells REAL
News, his credit card – which reportedly is to be topped up weekly
by Global Bank – was declined yet again when he attempted to pay
for a service.

This embarrassing situation has been going on since December last
year.