The Antigua and Barbuda government says it will defend a multi-million dollar lawsuit brought against it by the St. Kitts-Nevis National Bank.
Prime Minister Gaston Browne told legislators that the EC$60 million lawsuit stems from an agreement relating to the former Antigua Barbuda Investment (ABI) Bank that ended operations in 2015.
Browne told legislators that the St. Kitts-Nevis National Bank had chosen to underwrite a loan of the former government, granted by ABI Bank, which his administration is honouring.
He said that the claims by the bank for millions of dollars will not be honoured.
