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Scotiabank (Guyana) `negligently misdirected’ $28m – Stabroek News

–Full Court rules in case over intended mortgage payment

Justin Teixeira

The Full Court last month ruled that  Scotiabank (Guyana) “negligently misdirected” $28 million paid by Core Investments Inc which was intended as the early extinguishing of a mortgage.

The bank has been ordered to apply the $28m as originally intended and in addition it has to pay Core Investments Inc $1m in damages and $1m in costs.

The judgment handed down on December 1st 2023 by Justices Navindra Singh and Priya Sewnarine-Beharry set aside the judgment of Justice Damone Younge on February 15, 2023. The Full Court was also scathing in its criticism of Scotiabank (Guyana).

The property at the centre of the litigation was owned by Justin Teixeira, who was reported to have died by suicide back in April of 2022—close to a month after striking the business deal with Core Investments Inc.

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