Cash Plus Limited will know on Friday whether its remaining
accounts at the National Commercial Bank (NCB) will be closed.
High Court Judge Marva McIntosh on Tuesday reserved judgement in the legal battle between the investment scheme and the bank.
She is expected to deliver a ruling by Friday afternoon.
Lawyers for Cash Plus tried to persuade the judge to grant a further extension of the injunction which blocks NCB from closing the company's seven remaining accounts.
They want the injunction to remain in effect until the lawsuit filed by Cash Plus against the bank is heard.
The injunction granted late last year expired earlier this week.
During submissions on Tuesday, NCB stood its ground that the accounts should be closed.
Lawyers for NCB argued that the bank would be in breach of the law if it fails to close the Cash Plus accounts.
According to the bank's attorney, by not closing the accounts, NCB puts itself at risk because Cash Plus is engaged in activities which should be regulated.
NCB further claims that it is in breach of the Securities Act, which is a criminal offence if the accounts remained opened.
NCB also argued that it is at risk with banks in the US because of the conviction of Cash Plus Director, Carlos Hill.
High Court Judge Marva McIntosh on Tuesday reserved judgement in the legal battle between the investment scheme and the bank.
She is expected to deliver a ruling by Friday afternoon.
Lawyers for Cash Plus tried to persuade the judge to grant a further extension of the injunction which blocks NCB from closing the company's seven remaining accounts.
They want the injunction to remain in effect until the lawsuit filed by Cash Plus against the bank is heard.
The injunction granted late last year expired earlier this week.
During submissions on Tuesday, NCB stood its ground that the accounts should be closed.
Lawyers for NCB argued that the bank would be in breach of the law if it fails to close the Cash Plus accounts.
According to the bank's attorney, by not closing the accounts, NCB puts itself at risk because Cash Plus is engaged in activities which should be regulated.
NCB further claims that it is in breach of the Securities Act, which is a criminal offence if the accounts remained opened.
NCB also argued that it is at risk with banks in the US because of the conviction of Cash Plus Director, Carlos Hill.
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