BONI and Hamilton Reserve Bank Face Judicial Recommendations in Nevis
by Adam Fayed on
A Nevis High Court judgment involving BONI, formerly Bank of Nevis International, and Hamilton Reserve Bank has resulted in payment orders and referrals for possible regulatory action.
The September 15, 2026 judgment concerned approximately US$105 million in claims across proceedings involving both banks.
While the court ordered certain payments, the regulatory referrals do not themselves revoke either bank's license or place them into liquidation.
Are BONI and Hamilton Reserve Bank being liquidated?
The September 2026 judgment did not itself place BONI or Hamilton Reserve Bank into liquidation or revoke either institution's banking license. It included payment orders and referrals for possible regulatory action.
According to an October 8 report published by Bank of Saint Lucia, the September 15 judgment covered 39 proceedings, including 28 involving BONI and 11 involving Hamilton Reserve Bank.
The court ordered specified payments involving Hamilton Reserve Bank and referred the institution for possible regulatory action.
Separately, matters involving BONI were referred to the Nevis banking regulator and Premier Mark Brantley for consideration of whether its license should be suspended or revoked.
The court's payment orders and its regulatory referrals have different legal effects. Payment obligations established by the judgment should be distinguished from any subsequent decision by the relevant authorities to suspend or revoke a banking license.
Hamilton Reserve Bank disputes the allegations. In its published response, the bank defended its anti-money laundering procedures and said the claimants concerned were former customers whose accounts had been closed and whose balances had been remitted.
These statements represent the bank’s position in a contested matter. The outcome of individual claims and any subsequent regulatory action remain separate questions.
What could this mean for BONI and Hamilton Reserve Bank customers?
The judgment has direct implications for customers covered by the payment orders, while other account holders should monitor whether regulators impose restrictions affecting their bank.
For Hamilton Reserve Bank, the court ordered specified demand deposits to be paid by 9 a.m. on October 29, 2026. This deadline concerns the payments identified in the judgment, not every customer account.
The approximately US$105 million in claims across both banks should not be interpreted as an established loss affecting all depositors.
For customers involved in the disputes, the relevant issues include whether their claim has been determined, what payment obligations have been established as well as whether any orders have been enforced.
Any subsequent restrictions on banking operations or account access should be confirmed through official regulatory or bank notices rather than inferred from the judgment.
Customers should retain account statements, transfer instructions and correspondence concerning any disputed payments. These records can help clarify their position if questions arise.
If you bank with BONI or Hamilton Reserve Bank and would like to hear my thoughts on these developments, email hello@adamfayed.com or WhatsApp +44-7393-450-837.
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