The High Court has dismissed the majority of claims brought against the Guyana Bank for Trade and Industry Limited (GBTI), including allegations of unlawfulness, discrimination, and breaches of anti-money laundering laws, while finding a limited breach of an implied duty of good faith in the termination of certain banking relationships.
In rulings delivered by Justice Nicole Pierre in four consolidated matters—Heerawattie Mangaldeen v. GBTI, Abdul Ally v. GBTI, Vanessa Bagot v. GBTI, and Natalia Angela v. GBTI—the Court rejected claims for substantial damages and upheld the bank’s adherence to its statutory and regulatory obligations.
However, the Court determined that GBTI breached an implied contractual duty of good faith in how it handled the termination of some client relationships. As a result, nominal damages and costs were awarded in each case.
In a statement following the ruling, GBTI acknowledged the Court’s decision, noting that the dismissal of the primary claims affirms its compliance with Guyana’s financial laws and international regulatory standards.
The bank said it recognises the Court’s findings regarding the evolving role of good faith in commercial relationships, as well as the importance of maintaining clear documentation and evidence-based decision-making in managing client risk.
At the same time, GBTI maintained that its actions were taken in good faith and were grounded in its legal obligations, particularly in relation to anti-money laundering and countering the financing of terrorism (AML/CFT) requirements.
The bank has indicated that it will appeal the aspect of the ruling concerning the breach of good faith, arguing that the case raises important legal questions. These include the extent of a bank’s discretion in managing client relationships, the balance between contractual duties and statutory compliance, and the evidentiary standards required in complex risk environments.
GBTI said it remains committed to strengthening its internal processes and upholding high standards of regulatory compliance, while continuing to provide secure and responsible banking services.
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