HOW FAR WILL LIABILITY EXTEND IN THE HAMILTON BANK LITIGATION?

Serious questions are reportedly being raised by unhappy investors, all of whom made seven or eight figure deposits in Nevis' Hamilton Reserve Bank, and now face delays and what they consider to be unusual dilatory interference with making routine withdrawals, as to how to proceed to enforce their rights, and even collect damages.

Notwithstanding that there is what appears to be a valid Choice of Law provision in their depositor agreements, you can expect that their counsel will explore alternative solutions, seeking to find courts which will take jurisdiction over their claims. Whether they will be successful only time will tell. What constitutes a court of competent jurisdiction remains an open question.

We also have seen victims choose to go after the Saint Kitts and Nevis regulatory agency, Nevis itself, as well as ministers and law enforcement agencies they deem responsible, either through negligence, failure to monitor and control, or even more serious theories. Also, will the court find individuals personally liable for bank actions they deem to be actionable?

All these issues, and Nevis' future as a reputable and trustworthy offshore financial center, are on the table; we will be closely following all the subsequent and already pending litigation, and you can expect regular updates; stay tuned.