Antigua-Barbuda facing multi-million dollar lawsuit brought by St. Kitts-Nevis National Bank

0

The Antigua and Barbuda government says it will defend a multi-million dollar lawsuit brought against it by the St. Kitts-Nevis National Bank.

Prime Minister Gaston Browne told legislators that the EC$60 million lawsuit stems from an agreement relating to the former Antigua Barbuda Investment (ABI) Bank that ended operations in 2015.

Browne told legislators that the St. Kitts-Nevis National Bank had chosen to underwrite a loan of the former government, granted by ABI Bank, which his administration is honouring.

He said that the claims by the bank for millions of dollars will not be honoured.

Antigua Sailing Week

LEAVE A REPLY

Please enter your comment!
Please enter your name here