-staff assumed a robbery was about to take place 

The New Building Society (NBS ) in defending Tuesday’s lock down of the financial institution , says the bank’s staff were of the belief that a robbery was about to take place .

At the same time, the bank deemed the manner in which Supreme Court marshals enforced a levy as “unlawful” and “unprofessional.”

The incident on Tuesday stemmed from a move by the court to enforce a levy as marshals moved to seize assets relative to a court’s decision in which judgment valued $59M was awarded to former CEO of the mortgage lender, Maurice Arjoon on the claim of wrongful dismissal.

During the events on Tuesday, the bank reportedly hurriedly wrote a cheque of the amount the court awarded to Arjoon last year and handed it to his daughter.

According to statement which was released by the bank on Wednesday afternoon, around 1230hrs on Tuesday, a group of men went to the back entrance of the bank’s office at the corner of the Avenue of the Republic and North Road and opened the door of a Nissan Vehicle which the company owns and which was being driven by an employee. “They ordered the employee out of the vehicle and forcibly took the keys and took possession of the said vehicle,” the bank said.

At the same time, the bank said persons were seen coming out of a vehicle with building breaking equipment outside of the bank’s building perimeter. “This caused some panic among employees of the Society who thought that a robbery was about to take place,” the bank said. It noted that several cashiers moved away from their posts and the management took a decision to lock down the entity.

The bank said members of the Guyana Police Force subsequently arrived and management was informed that the persons who took possession of the vehicle, and who were at the bank’s Head Office were in fact marshals of the Supreme Court.

“In the midst of the commotion and the absence of a court order being produced, the management took a decision to safeguard the cash while giving customers an opportunity to orderly leave the bank through one entrance,” the bank stated. It said at no time its staff prevented persons from leaving the building , and  in an effort to ensure the safety of cash,” there was some inconvenience.”

The bank stated that in the absence of a Court Order, “it is our view that the management took the right decision to protect the interest of the Society, its staff and customers.”

The NBS stated that the court marshal’s conduct was unprofessional and resulted in the panic, chaos and misunderstanding which took place.

“The Society wishes to let it be known that if properly served with any instrument or order of the court, we would readily comply with such an order or instructions,” the bank stated.

In addition , the bank noted that when its lawyers arrived at the scene,  it took the decision to make the payment to Arjoon. It said the monies were sourced from the it’s funds while the bank awaits a refund from the Trust Company (Custodial Trustees) of the Pension Scheme.

The bank noted that it will also “seek to have a proper explanation from the appropriate authorities concerning the seizure and impounding of one of its motor vehicles.”

Arjoon’s lawyer, Attorney At law , Sanjeev Datadin told reporters after the situation had quelled on Tuesday that the levy proceedings were stayed after the bank signed a cheque for $59M which reportedly represents pension owed to Arjoon.

Earlier, Datadin said an appeal was pending after the bank had filed for a stay of execution of the court’s order. “The order is made for judgment, the Court of Appeal affirmed that there is no stay of execution on that judgment,” he said. “Mr Arjoon has waited 12 years for this,” he said