Image result for Gavel Winn FM

(Antigua Observer) Antigua & Barbuda has, according to lexology.com, successfully appealed a US district court ruling that under certain exceptions to the Foreign Sovereign Immunities Act (the “FSIA”), Antigua was subject to suit relating to its alleged involvement in the Stanford Ponzi scheme.

Finding that the commercial activity exception to sovereign immunity was not satisfied and that the waiver exception applied only to claims for which jurisdiction was conceded by Antigua, the Fifth Circuit reversed the district court’s determination that it had jurisdiction over certain claims against Antigua, a foreign nation, and remanded for further proceedings.

The plaintiffs in two putative class actions filed the suit alleging Antigua was involved and complicit in the Ponzi scheme perpetrated by R Allen Stanford.

Read more

Author: Sourced InformationEmail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Recent Articles

Add comment


Security code
Refresh

Top Regional News

West Indies News Network (WINN FM 98.9)
Unit C24, The Sands Complex
Newtown Bay Road, Basseterre
St. Kitts, West Indies

Telephone
St. Kitts (Office): 869.466.9586
St. Kitts (Studio-On Air): 869.466.0989
Miami: 1.305.921.4619

New York: 1-718-285-6984
UK : 0333 -344-0065

Copyright © 2016 West Indies News Network. All rights reserved.

Website Design & Development: Genesis Creatives, St. Kitts Nevis