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Messrs Debourg & Bartholomew |
At a press conference held last week, Mr. Wildman reported on the outcome of the Capbank matter.
Mr. Wildman stated that Head Justice Claire Henry, at 2p.m. , handed down the ruling on the matter. Application on behalf of Capbank challenging the Minister of Finance on count to have Receiver put in charge of Capbank with special powers was dismissed.
It was mentioned that the Minister's decision to invoke and appoint Mr. Holukoff to take over the bank, to failure of the bank to pay depositors their money, and was therefore left with no choice but to protect depositors. Mr. Holukoff, the appointed Receiver of Capbank, is said to be an Office of the Court and therefore had to report back to the Court and not the Government. He was given ten days to bring in the first report.
Being the Office of the Court, all directions would be given by the Judge to him in order to ensure that the matters are put into perspective. It was stated that the ruling is very significant, because ruling otherwise would severely hamper the effectiveness of the Receiver and all the irregularities of Capbank.
Mr. Wildman said that 4-5 persons were recognized to obtain the position of receiver for Capbank, evaluation was done and Mr. Holukoff was choosen to be Receiver. It was also mentioned that he hopes the Receiver will do his job and deliver report in time.
