SSBT loses fight to regain its bank license

By David Marchant

19 years ago

Topics

Bahamas Banks & Trusts Fraud Liquidations & Insolvencies

Keywords

Barclays Christopher Lunn Liquidations & Insolvencies Mohamad Harajchi Raymond Winder

Suisse Security Bank & Trust UBS

[ 2 more... ] [ top 5 ]

Bahamas-based Suisse Security Bank & Trust Ltd., which may be insolvent by as much as $29 million, has lost a four-year fight to regain its bank license.
In a judgment issued yesterday, the Privy Council in the United Kingdom dismissed an appeal by SSBT against a ruling on June 29, 2004 by the Court of Appeal of the Bahamas that upheld the revocation of SSBT’s license by the Governor of the local Central Bank, effective April 2, 2001.

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