Barbados Underground posted the blog First Caribbean International Bank Not Honouring Court Judgement Handed Down Since 2009–Boycott on the Cards?.
In summary: the Plaintiffs [Justin and Brunetta McIntosh] were experiencing financial difficulty in 2004 and started proceedings to sell the property that they owned which they had mortgaged to the First Caribbean. They could not sell because the bank had LOST the title deeds. The bank took responsibility in words [see judgement] but has reneged on its obligation to date. Why must the plaintiffs, or any Barbadians for that matter, have to tolerate a foreign institution demonstrating scant regard for our Court?
These poor Barbadians continue to suffer as a result of First Caribbean International Bank’s negligence and it appears that no one at that institution gives a damn. BU’s single request to the management of First Caribbean International Bank is to do right by this matter and we will not have to post a followup blog – First Caribbean International Bank Not Honouring Court Judgement Handed Down Since 2009–Boycott on the Cards?
From all reports the exposure given to the matter by BU helped to moved it along. Unfortunately the plaintiffs Justin and Brunetta McIntosh again find themselves mired in the process. The blogmaster understands attorney Bernadette D Callender who first dealt with the matter is withholding some important files. The blogmaster hopes not to have to do a follow up blog post on the why.
The other pressing matter to be resolved is the ‘usurious’ behaviour being levied by FirstCaribbean International Bank (Barbados) Limited on the McIntosh’. Because the client has been gripped in the process not unfamiliar to many Barbadians – the bank in its lack of wisdom continues to apply interest charges which has now surpassed the principal balance.
To explain:
The new Registrar Conveyance is now in place, and is in the keeping of FCIB, due to the fact that we are still owing them on the principle balance of a loan. On June 28, 2007 our then attorney Yearwood and Boyce submitted a letter . It stated, “Our clients have been unable to complete the sale of the property and liquidate their indebtedness to FirstCaribbean International Bank (Barbados) Limited as a result of the lost of the title deeds and plan by the bank and the delay in providing the perused draft affidavit and new plan for the property. In the circumstances we contend that the interest on the outstanding principal due FirstCaribbean International Bank (Barbados) Limited by our clients be waived by the bank” Monthly payments to the bank was very difficult and we were awaiting the sale to pay off the principal balance. FCIB stop sending us the monthly reminders and we thought that they understood our situation and was lenient. On instruction from my attorney, I visited the bank for a printed statement of our mortgage. It indicated that as at 26th February, 2018 our balance is as follows:
Principle balance $27, 510.34
Interest balance $44, 059.24
Outstanding balance $71, 569.58
Interest continues to accrue at 12.25% or $9.23 per day.
Bear in mind the Summary Judgment against FCIB was for damages to be assessed, interest and costs, such cost to be taxed if not agreed was imposed by the Supreme Court.
The blogmaster is calling first on the lawyer holding ther files of the McIntosh’ to have a conscience man!
The second call is on FCIB to also demonstrate your have a corporate conscience’ and allow these people to carry on with their lifes.
Relevant link:
Click to access 2009-Decision.-Justin-Burnetta-McIntosh-v.-First-Caribbean-Intl-Bank-Bdos-Ltd.pdf
The blogmaster invites you to join the discussion.