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Insurance Companies

arrow.gif (863 bytes) Crown Eagle Life Insurance
arrow.gif (863 bytes) Dyoll Life Insurance Co.
arrow.gif (863 bytes) Island Life Insurance Co.
arrow.gif (863 bytes) Life Of Jamaica
arrow.gif (863 bytes) Mutual Life Assurance
    

Banks & Building Societies

arrow.gif (863 bytes) Billy Craig Finance &
     Merchant Bank
arrow.gif (863 bytes) Caldon Finance Merchant Bank
arrow.gif (863 bytes) Citizens Bank
arrow.gif (863 bytes) Eagle Merchant Bank
arrow.gif (863 bytes) Fidelity Finance Merchant Bank
arrow.gif (863 bytes) National Commercial Bank
arrow.gif (863 bytes) Workers Savings & Loans


FINSAC Interventions

Company: Caldon Finance Merchant Bank
Intervention Date: March 22, 1998
Extent Of Support $121.1 million (effective May 1, 1998)

The details of assistance and support to this financial institution are listed in the table below:

Type Of Assistance Summary
  • Assignment of deposit liabilities
  • Deliver, transfer or assign to FINSAC any cash securities, security or another assets held by Caldon directly or indirectly for the benefit of the depositors.

  • Not to pay, prepay or repay any of its debts without the prior written consent of FINSAC.

  • Not to purchase or otherwise acquire any assets without the prior written consent of FINSAC

  • Not to make any payment outside of the ordinary course of business and not to make any payment in excess of $10,000 other than for the salaries on existing terms and conditions of employment without the prior written consent of FINSAC.

  • Not to make any payment directly or indirectly to any shareholder of any class of shares whatsoever or to any Director of Caldon, without prior written permission from FINSAC

  • Not to sell, transfer or otherwise dispose of its assets, or any part thereof, to any connected party with the prior written approval of FINSAC.

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