In the face of declaring it would honour whatever final judgment was awarded to former manager, Maurice Arjoon, whom it sacked a little over a decade ago, the New Building Society (NBS) has stepped back on its word.
The Society instead, has renewed its argument that the dismissed manager is fully responsible for his termination and partly for losses suffered by the bank, amounting to more than $70M.
The bank is currently challenging the ruling made by Justice of Appeal, Rishi Persaud that Arjoon be paid the more than $59M in pension owed to him.
