CDB president resigns, threatens lawsuit

The Caribbean Development Bank (CDB), which is headquartered in Barbados, has declined to comment on the resignation of its president, Dr Hyginus ‘Gene’ Leon, who has also threatened legal action against the organization.

In a brief statement, the CDB stated that it had no comment at present on Leon’s “immediate resignation.”

It is understood that Leon had been on administrative leave since January, and he had reportedly expressed concerns about not being treated fairly.

In a three-page letter sent to the CDB by a law firm based in St Lucia, Leon stated that he believed he would never be treated fairly and that the bank had lost all trust and confidence in him.

The letter further stated that Leon had taken the difficult decision to resign his position as President with immediate effect.

The law firm has given the CDB until May 4 to negotiate an amicable separation, and has indicated that their correspondence should be viewed as a pre-action protocol letter concerning the situation.

The law firm has also informed the CDB that it will be moving to the courts in Barbados, or any other jurisdiction appropriate to enforce Leon’s legal and constitutional rights.

Attorney Peter Foster KC has stated that Leon was sent on leave unceremoniously by a three-member committee, and that he was treated extremely unfairly.