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Dear Editor, The Tribune reported on September 29, 2023, that Attorney General Ryan Pinder, while addressing a financial conference, referred to The Bahamas’ insolvency regime as “a joke.” He also noted that companies are leaving The Bahamas because of our outdated legislation regarding insolvencies. The Bahamas’ major legislation governing company insolvency and restructuring includes The
Bailout process by giving the government more power to intervene. it grants a new orderly liquidation authorization. we all saw how they decided last time. the problem was not a lack of liquidation rules, it was just they were so big with all of your pension funds wrapped up in their bank, they had the most leverage for anybody to blackmail the government. they got all our money with no strings attached. the president adsing banks won't be able to put the savings at risk. what the president fails to mention is it's an extremely watered down version of the volcker rule. others would be able to ...