Former Board Member Ordered to Pay Damages to Girobank
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Former Board Member Ordered to Pay Damages to Girobank

CBCS, Willemstad, Curacao CBCS, Willemstad, Curacao

SINT MAARTEN/CURACAO - On January 25, the Joint Court of Justice ruled on appeal that a former Girobank board member is liable to the company on account of personal culpable handling of a serious nature.

The former board member was ordered to pay over USD 7 million in damages to Girobank. This ruling in favor of Girobank comes after years of litigation beginning in July 2015. The case was brought to court after an investigation, which was launched following the issuance of the emergency regulation, yielded indications of fraud.

The CBCS welcomes this ruling, seeing that now also at Girobank, a former board member has been held liable for the damage caused by his wrongful actions.

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