On Monday, 13 October, pursuant to Section 14 of the Bank and Trust Companies Law (1995 Revision), the Governor-in-Council instructed First Cayman Bank Ltd., and Gulf Union Bank Ltd., to close until further notice.
This closure is to allow a full investigation of certain matters that came to light on Friday, 10 October, as a result of the due diligence being undertaken as part of the proposed purchase of First Cayman Bank.
As a result of the instruction, the above banks will be closed for business until further notice.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information please contact Jacqui Crane
This closure is to allow a full investigation of certain matters that came to light on Friday, 10 October, as a result of the due diligence being undertaken as part of the proposed purchase of First Cayman Bank.
As a result of the instruction, the above banks will be closed for business until further notice.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information please contact Jacqui Crane
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.
