Valma Jessamy to Pay in excess of $2.5 Million to the Bank Following High Court Ruling

Six years after receiving EC$ 186,000.00 arising from a Default judgment against the Grenada Co-operative Bank Limited (GCBL), Environmentalist Dr Valma Jesamy now has to pay the financial institution in excess of EC$2.5 million in outstanding monies on a loan following a high court ruling handed down Tuesday against her by Justice Agnes Actie.

Legal sources told THE NEW TODAY that Justice Actie ruled that Jessamy will also have to pay costs to the bank and local law firm Lewis & Renwick in her case filed against the bank and the law firm.

One official said that the Environmentalist who is married to top criminal defense lawyer Jerry Edwin has not paid back the bank most of the money that was given to her in the form of a loan to help develop her upscale property in the Beausejour area.

Actie’s ruling this week was for the two claims that the court consolidated into one rather than hear the matters separately that were brought by the bank against Jessamy and the other case by her against the bank and Lewis & Renwick.

The bank succeeded in its case against her and she lost her case against the bank and Lewis & Renwick.

A source familiar with the case said the matter started off as a case by the bank against Jessamy for about One Million dollars.

Attorney Jerry Edwin did the case for his wife while John Carrington, KC along with Deborah St. Bernard of Lewis & Renwick represented the bank. Ian Sandy represented Lewis & Renwick.

THE NEW TODAY was told that Sandy was instructed by Lewis & Renwick to inform Edwin that there was really no case against the law firm in the matter and if it was dropped they were prepared “to take minimum cost”.

This offer was refused by Jessamy who proceeded with her case against the firm.

Jessamy included the firm in her action against the bank and sued the firm on the grounds that they were negligent in its handling of the mortgage on her behalf.

Lewis & Renwick insisted that it was retained by Co-op bank and at no time was it Jessamy’s legal representative.

Actie agreed with the firm and ruled against Jessamy.

In 2006, the Environmentalist won a $186,000.00 pay-out from Co-op bank by a default judgment on a case in which she accused the financial institution of refusing to honour several of her cheques which gave the impression to the public that she was not a person of good credit.

Dr. Jessamy instituted her legal proceedings against the bank on September 22, 2014 for defamation and breach of contract.

She alleged that by agreement in writing that her company had an overdraft facility with Co-op bank and that during the period May to June 2011 although the account had the requisite funds, the bank wrongfully and maliciously dishonoured 14 cheques.

Attorney Edwin has branded Actie’s recent ruling as a “very bad judgment” and hinted that he might file an appeal in the matter.