Willemstad/Philipsburg – On January 25, the Joint Court of Justice ruled on appeal that a former
Girobank board member is liable to the company on account of personal culpable handling of a
serious nature.
The former board member was ordered to pay over USD 7 million in damages to Girobank. This
ruling in favor of Girobank comes after years of litigation beginning in July 2015. The case was brought
to court after an investigation, which was launched following the issuance of the emergency regulation,
yielded indications of fraud. The CBCS welcomes this ruling, seeing that now also at Girobank, a
former board member has been held liable for the damage caused by his wrongful actions.