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'Major concern' over BISX listed firm's $5m prefs
The $5 million investment in a BISX-listed firm’s preference shares “is of considerable concern” to the liquidators of its largest client, who have warned that the deal will receive their “continued attention”.
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$358m penalty for fraud with Bahamas 'alter ego'
A US judge has imposed a $358 million fine on the perpetrators of an alleged multinational fraud that he found employed a BISX-listed firm’s subsidiary as its “alter ego”.
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'Severely hampered' over legal action against Alliance
Liquidators for an alleged multi-million dollar Ponzi scheme have been “severely hampered” by a lack of financing in their efforts to recover a $5 million investment, and pursue legal action, against a BISX-listed company’s main affiliate.
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Commission forces Benchmark into broker 'guarantee'
BISX-listed Benchmark (Bahamas) has been forced to “guarantee” its broker/dealer subsidiary will meet all financial obligations for “at least 12 months”, after regulators expressed concern over whether it was a ‘going concern’.
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BISX listee's principal seeks SEC suit dismissal
A BISX-listed company’s principal, and its broker/dealer affiliate, are demanding that a federal regulator’s lawsuit against them be dismissed because the US courts have “no jurisdiction”.
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Dames, Lightbourne to join Panthers prep programme
THE BC Christian Prep Panthers basketball programme is establishing itself as a pipeline for Bahamian talent and will add another pair of local student-athletes.
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Tobacco start-up targets up to $10m first year sales
A Bahamian-owned tobacco manufacturing start-up yesterday said it was targeting $5-$10 million in first year gross sales, but warned this and employee hires could be “significantly impacted” if no Excise Tax exemption was forthcoming.
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BVI court criticises Bahamas liquidators
The Bahamian liquidators for an alleged multi-million dollar international fraud have been blasted by a British Virgin Islands (BVI) judge over a “remarkable” and “gratuitous” agreement with a BISX-listed broker/dealer.
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Four killed in plane crash
THE tragic death of two American couples in a plane crash ripped through the small community of Treasure Cay yesterday.
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Final stage of bidding for cellular licence begins
AFTER a five-month delay, the final phase of the selection process for the country’s second mobile services provider has begun, the Utilities Regulation and Competition Authority announced yesterday.
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Are cruise ship sick heading here?
THE United States Coast Guard has told foreign-flagged cruise ships to be prepared to care for people with COVID-19 for an uncertain period of time at sea or seek help from countries in which they are registered.
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Nesbitt and team claim title in Brazil's pro league
NATIONAL team member David Nesbitt claimed his second consecutive Novo Basquete Brasil (NBB) championship in as many years.
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Broker ‘acted in good faith’ on $400m fraud
A BISX-listed company’s principal, and its main broker/dealer subsidiary, are demanding that a US federal lawsuit against them be dismissed because they “acted in good faith and did not receive ill-gotten profits” from an alleged $400 million financial fraud.
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BISX-listed firm’s $5m ‘recapitalise’ after SEC settles
A BISX-listed company will have to undergo a $5 million ‘recapitalisation’ as a result of the deal struck by its principal and main subsidiary to settle a lawsuit against them by US federal regulators.
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Court 'quashes' Commission probe into BISX firm's broker
The Securities Commission is appealing a court verdict that “quashed” its bid to assess the solvency of a BISX-listed company’s broker/dealer affiliate, which is embroiled in an ongoing $340 million fraud probe.
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Pirates tie the game with buzzer-beater against visiting VMI team to force overtime
But Virginia Military Institute opts not to play the extra period due to slippery floor at the Kendal Isaacs Gymnasium
STEPHAN Smith canned a buzzer-beating three-pointer for the Pirates to tie their game at 98-98 against the visiting Virginia Military Institute to force overtime last night.
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TOUGH CALL: What Bahamians are discussing on social media
SEVERAL recent posts on my Facebook page discussed topical issues and generated some interesting responses, which I share here.
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Benchmark 'guarantees' subsidiary's solvency
A BISX-listed company has upgraded support for its main broker/dealer subsidiary to a guarantee that will ensure it remains financially solvent until end-April 2015, in a bid to assuage the Securities Commission’s ongoing concerns.
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Bahamian connection turning heads with BC Prep Panthers
THE Bahamian connection with the British Columbia Prep Panthers continues to deliver a series of impressive performances as the programme establishes itself as a pipeline for local talent. The Panthers - with Joshua Dames, Bradley Lightbourne, D’Ant
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Agriculture policy to emphasise buyer links
Small Bahamian producers and livestock developers must have secure access to regional and international markets, the Minister of Agriculture said yesterday, adding that “connecting buyers to sellers” was central to the the Bahamas’ Agriculture Policy Programme (APP).
