Bank of The Bahamas yesterday emerged victorious in one of its two “highest risk” legal battles after a $6m default judgment against it was found to have been “irregularly” obtained. Justice Petra Hanna-Adderley upheld a prior decision to overturn the October 23, 2017, default entered against the BISX-listed institution by a group of companies alleged to have links to a former Cabinet minister.

Former Disaster Reconstruction Authority (DRA) Managing Director Katherine Forbes-Smith is seeking contractual damages to the tune of over $408,000 for an alleged breach of her contract. According to a writ filed in the Supreme Court against the DRA, Forbes-Smith is seeking contractual damages totaling $408,333.16, which includes $238,333.16 for 26 months’ salary; $65,000 in housing allowance; $32,500 in duty allowance; $6,500 in fuel allowance; and $66,000 in gratuity entitled at the end of her contract.

While making the case that Bahamas Petroleum Company (BPC) should have waited for the outcome of environmentalists’ judicial review application in the Supreme Court before drilling its exploratory oil well, Fred Smith, QC, told the court yesterday that the company has “poked a hole in the belly of mother nature”. However, BPC maintained that the exercise would pose further risk if stopped at this stage. Justice Petra Hanna-Weekes is expected to soon rule on whether she will grant leave for judicial review