By Fay Simmons
Tribune Business Reporter
The Attorney General yesterday branded The Bahamas corporate insolvency regime as a joke and pledged to reform outdated laws and regulations that continue to undermine the financial services industrys competitiveness.
Ryan Pinder KC renewed his promise to make The Bahamas a near shore Delaware through overhauling the bankruptcy and insolvency regulatory framework, which has not been upgraded for decades. He told the Nassau Conference that clients have been leaving The Bahamas due to the outdated regime.
He said: Our insolvency regime is a joke. It instils no confidence in sophisticated structuring of companies on a commercial basis in The Bahamas. In fact, it was crea…
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