CCJ orders Caye International Bank to pay Panama-based Rosemore

CCJ orders Caye International Bank to pay Panama-based Rosemore

 Belize’s highest court, the Caribbean Court of Justice has ruled that Caye International Bank pay more than $170,000 U.S. dollars to Rosemore International Corporation. The court dismissed an appeal by the Belize-based bank last week. CCJ Judge Andrew Burgess, in outlining the court’s final decision, explained that the bank had breached its care of duty to the Panama-based company by not informing the company of red flags that had been determined during the sizable transaction. Rosemore of Panama successfully sued the bank in our country’s High Court to recover the funds, which the bank deducted without authorization or consent. Here’s a part of Justice Burgess’s explanation of the decision.

Representing Caye International Bank were King’s Counsel Simon Knox and Sheena Pitts and for Rosemore, it was Pricilla Banner.

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