James wants information about CKC-bankruptcy

POSTED: 02/8/13 1:18 PM

St. Maarten – “What happened to the depositors of the Christian Kingdom Cooperative?” UP MP Jules James wrote in a press release issued yesterday. The CKC went bankrupt, $1.5 million evaporated and the bankruptcy left 2,318 members without their money.

James wants to know from Finance Minister Roland Tuitt whether the Central Bank has paid money to depositors, noting that a court ruling has already ordered the Central Bank to repay two depositors.

James also wants to know whether the Central Bank established additional measures to protect depositors, how many other cooperatives there are on the island, how much money their accounts are holding and how many financial institutions there are where the funds of depositors are not protected.

Did you like this? Share it:
James wants information about CKC-bankruptcy by

Comments are closed.