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Man must pay for having illegal weapon
Article by March 5, 2021
The High Court has imposed a $5 000 fine on a man from Lower Carlton, St James who had a 12-gauge flare launcher.
Theodore Orlando Layne, has three months to pay the money to the No. 2 Supreme Court or he faces an alternative of two years in prison.
Madam Justice Wanda Blair handed down the ruling on the convicted man who had previously pleaded guilty before the court to the November 11, 2013 charge.
“I must say very clearly that this court is cognizant of the fact that there are too many illegal firearms on the streets of Barbados. A firearm in any form is a dangerous weapon that is capable of causing death and serious injury to hapless victims. The court has a responsibility to pass sentences toward . . . offenders.
Introduction
Driven by the Coronavirus pandemic, extreme volatility on the financial markets in early 2020 led to lenders and financial institution counterparties issuing a significantly increased number of margin calls under facilities governed by English law. Due to the rapid devaluation in the collateral held under such facilities, including margin lending facilities and ISDA-governed transactions, these margin calls typically demanded significant amounts of cash or additional collateral within a very short space of time, in order to cover a lender’s or counterparty’s exposure. As happened in the 2008 financial crisis, this environment has led to disputes crystallising over the validity of these margin calls, collateral valuations, the validity of parties’ acceleration and termination rights for missed margin calls, and the sale of collateral in enforcement actions.