The Supreme Court has prevented the Bahamas being perceived as a parochial, quirky jurisdiction for international business through its recent ruling on a $33 million insolvency dispute, a former attorney general said yesterday.
John Delaney QC told Tribune Business that had the verdict in favour of his client, Wason Holdings, been reversed, it could have potentially undermined the Bahamas economic model as an international financial services (IFC) and business centre.
He explained that an alternative verdict would have placed obstacles in the way of foreign creditors seeking to enforce payment demands against Bahamian-domiciled entities, and restric…
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