HAMILTON RESERVE BANK AND BONI DEFY COURT ORDER REQUIRING THEM TO DISBURSE TO DEPOSITORS, FILE APPEALS OF DEBATABLE LEGAL MERIT

The Omnibus Judgment entered on September by the High Court in Nevis ordered both Hamilton Reserve Bank Ltd. (HRB) and BONI ( Bank of New Innovation Limited) to pay their demand depositors, who have been seeking access to their accounts for years, by no later than October 29, 2026. However, rather than comply with the 222-page order of Court, which tracked their failures to remit funds on request, both offshore banks have filed appeals to the Eastern Caribbean Supreme Court. In our opinion, both cases lack merit; The Court will decide.

A fair reading of the issues raised in the appeals however, is extremely troubling to legal observers; rather than directly respond to the Court's Findings of Fact, both banks have interposed technical and procedural defenses that attempt to excuse their improper behavior which, when coupled with the banks' prior utterly dilatory and yes, even Bad Faith, legal maneuvers, lead us to conclude that these appeals may have been brought solely for the purposes of delay, and devoid of legal merit. Whether sanctions will ultimately be visited upon the banks we cannot say, but their conduct is questionable at best.

Issues raised, such as alleging Judicial Overreach and "Bizarre" blame by the Court, and adherence to US AML-BSA compliance regulations and procedure, Contradictory Calculations, Preempting Regulatory Powers and Over-reliance on Subordinate Witnesses, will all have to be considered by the appeals court, and result in an extended period of delay for the victims.Moreover, the banks will have an additional appeal as a Matter of Right to Nevis' designated Court of Last Resort, the Privy Council in the United Kingdom.

As Justice Delayed is Justice Denied, we fear that it will be many years for the appellate process to play out, which is an abject disservice to the victims, all of whom deposited a substantial sum into the respective banks, which may cause them to choose other avenues, and other targets, in their efforts to recover their money. We will be monitoring all developments as they unfold in what has become not only a matter of great public importance to the Nevis offshore industry, but investor trust in the country as a whole; stay tuned.