WILL WE SEE AN ISSUANCE OF WRITS OF CONTROL AGAINST HAMILTON RESERVE BANKS AND BONI THIS WEEK IN NEVIS?

           

As of the close of business yesterday, High Court staff in Nevis reported that no funds had been placed into the Court Registry to satisfy the Omnibus Judgment entered on September 15, 2026. The order, which has neither been stayed nor set aside by the Court of Appeals, specified payment in full no later than 9 O'Clock A.M., Atlantic Time, this morning.

There are reports that plaintiffs' counsel in both cases intends to apply for and obtain Writs of Control forthwith, (which our American readers call a Writ of Execution) which are issued by the Clerk of Court. This authorizes government agents to seize property of a judgment debtor, if after demand for payment is made and declined, and later sell off such assets to satisfy the judgment(s).

It is noteworthy that the Judgment also called upon the Premier and regulatory authorities to report to the Court on its request for an investigation, as well as suspension of the banking licenses of both offshore banks. Curiously, HRB's banking license was just very recently renewed, and we wonder whether the reports ordered to be submitted will actually appear in court today.

It is expected that counsel for the victims, both those who now posses judgments, and those who have not as yet reduced their claims to civil litigation, will now take alternative action in the courts to redress their grievances, and recover their deposits. It would be premature to specify who their probable targets might be, and we do not wish to give those individuals any advance notice, allowing them to fraudulently transfer assets to evade justice, although some media have already identified the likely targets, and their personal liability appears to have a factual and evidentiary basis. We intend to update our readers later this week on all developments as they occur.