Las víctimas olvidadas de Stanford ahora disponible en español

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Saturday, June 14, 2014

Letter from COViSAL to JLs, Amicus Curiae & High Court of Antigua - June 11, 2014

June 11, 2014

Marcus Wide & Hugh Dickson
Joint Liquidators of Stanford International Bank (in Liquidation)

The Eastern Caribbean Supreme Court in the High Court of Justice
Antigua & Barbuda
Attn. Deputy Registrar: Ms. Tracey Ann Samuel

Mr. Lenworth Johnson, counsel as Amicus Curiae;

 Re.Claim No. ANUHCV 2009/0149 - In the Matter of Stanford International Bank Limited (in Liquidation), the International Business Corporation Act, Cap 222 of the Laws of Antigua and Barbuda, and an Application seeking the Court's Directions, Marcus Wide and Hugh Dickson as Joint Liquidators of Stanford International Bank Limited (in Liquidation).

 COViSAL is a group of more than 1,500 international families, including my own, victims of the pyramidal fraud perpetrated by R. Allen Stanford who have gathered together to defend our rights in the Coalicion Victimas de Stanford America Latina ("COVISAL").

 On February 17, 2014, the Joint Liquidators of Stanford International Bank Ltd. ("SIBL"), Marcus Wide and Hugh Dickson of Grant Thornton, sent a letter to Stanford's victims alleging they received "preference" payments. Such a claim is based on the Joint Liquidators interpretation of the International Business Corporation Act ("IBCA") of Antigua. We believe that the Joint Liquidators attempts to recover the alleged "preference" payments are flawed under Section 204 of the IBCA, and are not supported by the law. This IBCA Act applies to the corporation itself, its affiliates, directors, officers, and share holders, and not to depositors.

 SIBL's depositors were bound by agreement with the bank - Account Application, General Terms and Conditions and Terms of Deposit 

 SIBL's depositors of CDs filled out and signed a Depositor's Account Application subject to the Bank's General Terms and Conditions and Terms of Deposit. The latter permitted depositors to make withdrawals from their CD accounts at any time up to 4 times a year. (See enclosed copies of bank's documents). Depositors who made withdrawals in accordance with the Terms of Deposit where simply following guidelines set forth by SIBL and were in no way responding to preferential treatment...................

To read the full Letter click here

 For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group – SIVG official forum

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