Efforts by attorneys from Nevis-based HAMILTON RESERVE BANK, to obtain a Stay from the September 15 Omnibus Judgment, which ordered the bank to pay its depositors USD$80.5 from their demand accounts, failed yesterday, when the Court denied their motion. The bank has been ordered to fully pay over this amount, in full, by no later than October 29, 2026.
The Court also ordered that certain of the disclosures it ordered to be made by the BANK OF NEW INNOVATION a/k/.a BONI, were not required to be made at this time, although other information the bank must disclose remain due by Monday, October 19.
We note that Nevis premier MARK BRANTLEY stated, during his press conference, that while HRB applied for a Stay, which was denied, BONI never applied for one. Therefore, we ask the premier what is stopping him from following the judicial advice, revoking BONI's banking license, and appointing regulators to wind up its affairs? We consider that to be a fair question that deserves a response forthwith.
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