Demerara Bank Limited has lost its appeal in the high-profile case involving the closure of bank accounts belonging to candidates of the We Invest in Nationhood (WIN) party, ensuring the matter will proceed to full hearing before the courts.
The ruling was handed down Thursday by the Full Court of the High Court, with Justices Nigel Niles and Deborah Kumar-Chetty dismissing the bank’s appeal, while Acting Chief Justice Navindra Singh issued a dissenting opinion.
The decision affirms an earlier ruling by Justice Nicola Pierre, who had refused the bank’s attempt to strike out the claims brought by several WIN candidates whose accounts were abruptly closed.
Those affected include WIN candidates Dexter George, Joel Ramesh, Lester Benjamin, Denitta Parkes, Gobin Harbhajan and Denodra Park, who contend that their accounts were terminated without adequate explanation beyond references to internal policies and regulatory obligations.
The dispute is set against a charged political backdrop. The WIN party is led by Azruddin Mohamed, who contested the 2025 General and Regional Elections, secured 16 of the 29 parliamentary seats allocated to the opposition, and now serves as Leader of the Opposition.
The account closures occurred amid heightened scrutiny surrounding Mohamed and his political movement, with banks citing compliance obligations under Guyana’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.
However, the Full Court found that the claims raised by the WIN candidates disclosed an arguable cause of action and should not be dismissed prematurely.
At the core of the case is the nature of the banker-customer relationship. The court upheld Justice Pierre’s finding that this relationship is fundamentally contractual and capable of giving rise to claims of breach, including allegations that decisions were made arbitrarily or without good faith.
The court has now ordered Demerara Bank to file its defence by May 21, 2026, and to pay costs of $100,000 to each of the affected parties.
Legal representation in the matter saw attorney Darren Wade appearing for the WIN candidates, while Demerara Bank was represented by Senior Counsel Stephen Fraser, along with attorneys Shontel Scott, Sydney Fraser and Shakisa Harvey.
The case has drawn significant public and legal attention, raising broader questions about whether financial institutions can lawfully deny or withdraw services from individuals based on perceived risk, and where the line is drawn between regulatory compliance and constitutional protections.
In her earlier ruling, Justice Pierre relied on evolving legal principles, including guidance from the Caribbean Court of Justice, which emphasises duties of honesty, fairness, and good faith in contractual relationships. She held that even where banks exercise discretion, that power is not absolute and must be exercised lawfully and reasonably.
With the appeal now dismissed, the case moves to its substantive phase, where the court will examine whether Demerara Bank acted within the law—or whether the account closures amounted to unlawful or discriminatory conduct in a politically sensitive environment.
The outcome is expected to have far-reaching implications, not only for the banking sector, but also for political participation and access to financial services in Guyana.
