After nearly five years of delays, missed deadlines, and mounting frustration, the long-running legal battle between investor Jack Stroll and the Global Bank of Commerce (GBC) returned to the High Court in Antigua on Friday, where Judge Renee Williams, in no mood for further broken promises, issued a stern warning from the bench: comply or face jail.
The case dates back to 2020, with a court ruling in 2022 firmly in Stroll’s favor. The judgment ordered the Global Bank of Commerce—and its CEO Brian Stuart-Young personally—to repay the $10 million owed to Stroll. Yet despite the clear ruling, no payment was made. In 2024, the court set a firm deadline. That, too, came and went without consequence.
A second deadline came and went on February 28, 2025, with the warning that failure to comply could result in jail time. Again—no payment.
Friday’s hearing was expected to be a formality: a brief session to address the latest missed payment. Instead, it unfolded as a four-hour courtroom drama. Stroll, instructed to attend, was unexpectedly called to the stand and asked whether he knew if the bank had the funds to pay.
A question that, as one observer put it, “rather misses the point of what a bank is.”
The next question by attorney Dr David Dorsett to Stroll was “does Mr Stuart-Young have the money to pay you?” Stroll’s response: “If he mortgages his house and sells his BMW special edition,” caused amusement in court.
When Stuart-Young took the stand, his credibility took a hit. Under oath, he claimed his Hodges Bay home is worth only XCD $500,000, despite market estimates of USD $3–4 million. He also stated his monthly salary is USD $30,000, plus bonuses of course. King’s Counsel Leslie Thomas, representing Stroll, challenged the bank’s solvency and accused Stuart-Young of trading while insolvent. The CEO denied this, claiming the bank was not insolvent but merely experiencing “liquidity issues.”
Judge Williams was unpersuaded; he ordered Stuart-Young to pay court costs of XCD$3000 for wasting the court’s time and issued a stark ultimatum: if the next installment is not received by May 19, 2025, Stuart-Young will go to prison for 21 days.
While Stroll’s case is the most prominent, it is far from isolated. An investor in Peru, who requested anonymity, is one of many investors struggling to withdraw money from GBC. Concerns continue to grow among international observers over the regulatory latitude afforded to Stuart-Young.
With the next court date set and the threat of jail looming, all eyes are on whether this is finally the moment accountability catches up—or just another chapter in a saga that has already gone on far too long.
