Gulf Union (Bahamas) finally goes into permanent liquidation

By David Marchant

27 years ago

Topics

Bahamas Banks & Trusts Fraud Liquidations & Insolvencies

Keywords

Deloitte Graham Garner Gulf Union Bank Liquidations & Insolvencies PricewaterhouseCoopers

Raymond Winder

[ 1 more... ] [ top 5 ]

After a hearing that lasted half a day, the Bahamas Supreme Court officially placed Gulf Union Bank (Bahamas) into liquidation on March 26 but deferred a decision on whether to appoint the current provisional liquidators as permanent liquidators.
The court first ruled on two preliminary legal issues regarding the competence and appropriateness of the National Insurance Board, which is a government agency, in being allowed to petition for the winding-up of the bank.

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