High Court Halts Feinstein Trial Over Evidence Dispute

It made headlines back in April 2024, the Atlantic Bank Limited sued businessman Michael Feinstein and Stake Bank for alleged fraud.  In the lawsuit, Atlantic Bank claims that it has provided Stake Bank Enterprise with sixty-two million dollars to develop Stake Bank Island into a cruise ship docking facility. ABL says Feinstein went behind the company’s back and secured title to a twenty-three-and-a-half-acre island extension in his name, not the company’s. The trial was set to begin today, but Feinstein’s legal team, led by King’s Counsel Richard Salter, asked the court to hit pause. Why? They’re appealing a decision by Justice Rajiv Goonetilleke, who denied their request to introduce new evidence. That matter is scheduled to be heard next week before the Court of Appeal. The Court of Appeal is expected to hear that matter next week, and depending on how that goes, the High Court has penciled in a virtual session for November to decide when the trial will actually resume. In the meantime, Justice Goonetilleke has ordered Atlantic Bank to cover legal costs for Feinstein and Stake Bank Enterprise which, by the way, is currently in receivership. Atlantic Bank Limited is represented by Senior Counsel Eamon Courtenay, while Senior Counsel Dean Barrow represents Stake Bank Enterprise Limited. Businessman Michael Feinstein made these remarks upon exiting the courtroom.

 

Michael Feinstein, Businessman

“All I can tell you is it is a sad day when the go0vernment takes the side of “banksters”.

 

Paul Lopez

“Mr. Richard can you tell us about the application before the Court of Appeal?”

 

Richard Salter, KC, Attorney-at-law

“I am sorry I can’t. I am sorry I can’t, thank you very much.”