FINANCIAL Institutions Services Limited’s (FIS) bid to recover the almost $2 billion owed by Donovon Crawford and the other principals of the defunct Century National bank hit another snag yesterday when the local appellate court postponed its request for the go-ahead to collect the money which has been outstanding for almost three years.

The motion asked the court to lift the stay of execution that Crawford’s lawyers obtained against chief Justice Lensley Wolfe’s 1999 order that Crawford and the rest of directors held responsible for the fall of Century refund the money.

The stay of execution was granted by the local appellate court last year pending the outcome of the appeal that Crawford’s lawyers intend to make to the United Kingdom Privy Council. However, on February 12, this year, in response to requests by FIS’ lawyers, local appellate court judge, Henderson Downer ordered that Crawford should put up $7 million in escrow before being allowed to go forward with the appeal to the Privy Council.

Justice Downer also gave FIS liberty to apply to have the stay on the 1999 order lifted within 30 days if the money was not paid.

However, yesterday when FIS attempted to have the stay rescinded, local appellate court judges, Donald Bingham, Paul Harrison and F A Smith, adjourned the matter, pending the outcome of the appeal that Crawford’s lawyers are taking against Justice Downer’s order. When that matter comes up before the Privy Council, Crawford’s lawyers will argue that Justice Downer did not have the legal authority to impose the $7-million payment on their client as a condition of going forward with the appeal.

Crawford left the island in the mid-1990s shortly after finance minister, Omar Davies, took over the Century National Group on the basis that it was caving in due to insolvency.

Crawford mow resides in the United States.