The legal dispute between GBC and Stroll dates back to 2020, resulting in a 2022 ruling that held both the bank and Stuart-Young personally liable. At Friday’s hearing, Judge Williams ordered Stuart-Young to pay an additional EC $3,000 in court costs for “wasting the court’s time.”
GBC attributes its previous silence on the matter to a court-issued confidentiality order, which it claims to have fully respected. The bank alleges that other parties “exploited the Bank’s silence to peddle misinformation and sensationalism to harm the Bank, its staff and the international banking sector.”
Established in 1983 as Antigua and Barbuda’s first licensed international bank, GBC emphasized that it has kept the Financial Services Regulatory Commission (FSRC) of Antigua and Barbuda “fully informed of all developments at every stage of these proceedings.”