High Court rules against GBTI’s closure of several WIN party members’ accounts

Last Updated on Tuesday, 31 March 2026, 0:05 by Writer

The High Court on Monday ruled that the Guyana Bank for Trade and Industry (GBTI) wrongfully closed the bank accounts of four members of the We Invest in Nationhood (WIN) political party.

“The Court is therefore satisfied that the Respondent (GBTI) acted arbitrarily in the exercise of its contractual power and thereby breached the implied terms requiring honesty, good faith, and rationality in performance,” Justice Nicole Pierre said in her decision.

The judge also awarded the four applicants — Vanessa Bagot, Heerawattie Mangaldeen, Natalia Angela and Abdul Ally — costs based on the point that they won.

They were represented by Attorney-at-law Darren Wade.

The judge found in each case that GBTI breached the contract in that the financial institution breached the implied duty to act in good faith in the exercise of its discretionary contractual powers.

As a result, the court awarded each of the applicants damages of GY$20,000 and costs of GY$300,000.

Justice Pierre found that while GBTI was entitled to take steps to manage sanctions-related risk as a legitimate commercial objective, the manner in which it exercised its contractual power to terminate the applicant’s account did not satisfy the minimum standards imposed by law.

“The decision was not based on any identified conduct or evidence specific to the Applicant, but on a generalised assumption arising from her association with a political party whose leader was sanctioned. In the absence of any inquiry, and where less intrusive measures were available but not considered, the termination cannot be characterised as a rational or good faith exercise of the Respondent’s discretion,” she added.

Justice Pierre, however, dismissed their claim of procedural fairness and natural justice, saying that the decision stemmed from a private contract and not amenable to public law review.

Also dismissed were claims for unlawful discrimination under the Prevention of Discrimination Act, and the alleged non-compliance with the Anti-Money Laundering and Countering the Financing of Terrorism Act for disclosing no private cause of action.

The High Court refused claims for declaration that the WIN party is a legal entity distinct from its members, and no sanctions have been imposed on the WIN party or any members other than its leader is refused.

Several commercial banks had closed the bank accounts of many WIN party supporters shortly after their names were seen on the gazetted lists of candidates for the September 1, 2025 general and regional elections.

The Leader of WIN, Azruddin Mohamed has been sanctioned by the US Department of Treasury’s Office of Foreign Assets Control for allegedly smuggling more than 10,000 kilogrammes of gold and evading more than US$50 million in taxes payable to the Guyana government. His father, Nazar “Shell” Mohamed has been sanctioned on similar grounds.

The US has since requested their extradition to face trial in a Florida court for alleged financial crimes of wire fraud, mail fraud and money laundering.

They are engaged in a protracted legal battle to avoid a U.S. extradition request.