business@tribunemedia.net
WEDNESDAY, JANUARY 16, 2019
$4.20
BENJAMIN ALDERSON
Bahamas founder defeats ex-boss over SEC fees By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN financial advisory firm’s founder has emerged victorious in his battle to force a former employer to cover legal fees incurred in fighting US federal regulators. Benjamin Alderson, who formed Sandyport-based Touchstone Advisory in 2017, saw a US arbitrator uphold his demand that DeVere USA pay his legal fees and expenses in defending a Securities & Exchange Commission (SEC) action against him. That action involves alleged acts that occurred when he worked for DeVere prior to leading a management buyout of the latter’s Bahamian subsidiary for £100,000 in May 2017, and its recasting as Touchstone Advisory. Retired US justice Theodore Katz, in his January 2, 2019, arbitration ruling, noted that the DeVere Bahamas sales agreement, signed by both Mr Alderson and Nigel Green, the group’s founder, contained language that pledged to “promptly” pay legal fees owed to his US attorneys. However, DeVere fell behind to the extent that Mr Alderson’s legal representatives were owed some $97,694 for defending him against an SEC lawsuit that alleges he and a former colleague “defrauded clients” by “concealing serious conflicts of interest” and misleading them about the advantages of an offshore pension plan. DeVere ultimately settled the SEC’s action against itself for $8m in June 2018, leaving Mr Alderson fighting on two fronts - against his former employer for payment of his legal costs while battling the US capital market regulator over
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$4.21
$4.21
DPM blasts ‘unpatriotic’ 35% devaluation claim By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
T
HE deputy prime minister yesterday slammed “false rumours” of a 35 percent currency devaluation and second VAT hike as “unpatriotic” for threatening The Bahamas’ economic stability. KP Turnquest, moving rapidly to dispel social media speculation that had “gone viral”, blasted the spread of such claims as “very irresponsible” given that they could “shake the confidence” of both consumers and Bahamian businesses in the economy’s prospects. He warned that it could also “cause concern internationally”, given that it may be picked up by foreign investors and companies conducting business with The Bahamas, as well as the likes of the International Monetary Fund (IMF), Moody’s and Standard & Poor’s (S&P), with the latter two constantly
• Also ‘zero truth’ to further VAT hike • ‘False rumours’ threat to economy • KP ‘hopes’ politics not behind spread • Urges more critical eye on social media
KP TURNQUEST monitoring this nation’s creditworthiness and ability to pay its bills. Voicing concerns over the potential damage to The Bahamas’ reputation, Mr Turnquest said the situation was “not a very good reflection on us as a people” and expressed hope that the
Financial services to ‘come back stronger’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The deputy prime minister yesterday admitted there may be “some initial contraction” as the Bahamian financial services sector adjusts to its new regulatory regime, but expressed confidence it will ultimately “come back stronger”. KP Turnquest told Tribune Business there would inevitably be some shakeout as the industry adapts to the “economic substance” requirements imposed by the European Union (EU) and Organisation for Economic Co-Operation and Development (OECD), and the elimination of “ring fencing”, but argued that The Bahamas’ “quality”
reputation will see it reemerge again. Speaking as the prime minister met with senior EU officials to reaffirm The Bahamas’ intentions to meet its demands, Mr Turnquest voiced optimism that this country was “in good shape” to avoid the 28-nation bloc’s “blacklist” that is due to be announced later this month. “Our regime is pretty much benchmarked with all jurisdictions of like size and scope, so we believe we will be competitive in our sphere,” Mr Turnquest told this newspaper of the new financial services supervisory framework. “We anticipate that while we may find some initial contraction, as we always do when there are changes of
rumours were not ignited by political mischief. He urged Bahamians to apply more scepticism and critical analysis to social media postings, rather than immediately accepting them as fact or Gospel truth and starting to spread them themselves. Mr Turnquest and the Ministry of Finance were forced to assert that the Bahamian dollar is under “zero threat of devalaution” as even attorneys were asking Tribune Business whether the claims relating to this and another VAT hike were true. Alarmist social media messages seen by Tribune Business, under the banner “Breaking News”, warned: “The financial crisis will hit by March 2019. The Bahamian dollar will be
devalued to 65 cents to every US dollar. “The VAT will increase to 15-18 percent by March 2019. The Government is not being truthful at all. We need help.” Another referred to “the upcoming increase in VAT to 15-18 percent that the Government has planned for us on July 1”. Hitting back, Mr Turnquest told Tribune Business: “It’s very irresponsible of people to be floating these kind of false rumours as they tend to shake the confidence of the general public who are unsure whether they are true or not. It does also have the potential to cause concern to international parties. “It is very unpatriotic,
this nature, at the end of the day clients return to quality and there is no doubt that The Bahamas is a quality jurisdiction. We anticipate we may have a bump in the road, but we expect the industry to come back stronger and adjust to the regulations as required.” While expressing confidence that The Bahamas has done everything necessary to avoid the EU “blacklist”, Mr Turnquest said: “We had outlined to the EU last year a timeline for implementation of various initiatives and we have met all our targeted deadlines. As far as we’re concerned we’re in good shape. We have addressed all the follow-up questions put to us, and await the final assessment by the EU’s Code of Conduct Group. “We certainly expect to have a favourable review but, at this stage, it’s in the hands of those who will be the judge, jury and executioner. We’ve certainly complied
with all the standards, the supporting paper that was presented to us, and believe we have done enough.” Dr Hubert Minnis, together with Carl Bethel QC, the attorney general, met in Brussels with top EU officials to press the case for this nation to avoid any “blacklist”. Yesterday’s meeting saw the Bahamian delegation meet with Stephen Quest, director-general of the directorate generale for taxation and Customs union. Many in the financial services industry, though, are still trying to interpret what Dr Minnis’ trip to Brussels means and if it represented a last-ditch effort to persuade the EU not to include The Bahamas on its “blacklist”. A government source, though, said the prime minister’s presence was intended to show the EU that The Bahamas “takes this very seriously at the highest level”, and is putting major weight behind its compliance.
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PI resort terminates 19 eatery workers By NATARIO MCKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net NINETEEN terminated employees at Paradise Island’s troubled Club Land’Or resort will only receive due severance pay and other benefits when it is sold, a top labour official said yesterday. John Pinder, the director of labour, told Tribune Business he had received a letter from the property’s general manager, Prince Ellis, which had informed staff that its dining amenities would be discontinued with effect from New Year’s Day. “Yes, they have sent notice to that effect,” he confirmed. “The restaurant was still operational and has now been shut down. The place is closed. The closure has affected 19 persons who were still there. All the people were still technically working there, getting a day here and there, but these persons were employed in the dining area.” That letter also revealed, according to Mr Pinder, that the employee redundancy
SEVERANCE, OWED WAGES ONLY PAID WHEN CLUB LAND’OR SOLD
JOHN PINDER package has been capped and will be paid in full along with all outstanding wages once Club Land’Or’s sale is finalised. He told Tribune Business that he was nonetheless seeking a meeting with the property’s management. “I’m waiting to have a meeting with them because there are some things I need to verify,” said Mr Pinder.
In previous interviews with this newspaper, Mr Pinder had confirmed that employees at Club Land’Or claimed to be owed as much as 49 weeks pay. The Paradise Island resort has been a troubled property for many years, with its difficulties making headlines several times. In 2012, it managed to head-off a Supreme Court application by creditors to place it into receivership. Club Land’Or has also been actively marketed for sale, its price dropping from $43m to $38m during the two years it was formally “on the market”. Atlantis was said to be among previously interested purchasers but no deal has ever materialised to-date. Dion Foulkes, Minister of Labour, last year confirmed he had launched a probe into claims by Club Land’Or staff that they were not being paid. This was in response to the 49 weeks’ pay outstanding allegations, with similar claims having been made by staff the year before. Darrin Woods, the Bahamas Hotel, Catering and Allied Workers Union
(BHCAWU) president, was out of the country when contacted by Tribune Business yesterday about Club Land’ Or. He said: “That’s the first I’m hearing that. I’m out of the country but I will get someone to look into that.” Earlier this week, he confirmed to Tribune Business that he was seeking to meet with Club Land’Or management after receiving a letter - similar to that received by Mr Pinder - detailing redundancies among the resort’s restaurant employees. “We got a letter the day after the holiday,” Mr Woods confirmed. “We’re supposed to go in and have a meeting to find out exactly what’s going on. The second vice-president will be dealing with that. “It sounds as if the restaurant is closing, based on what they kind of referenced. They’re trying to find a buyer for the hotel; it’s been on the market for some time. Once we get together with them we’ll find out how many people will be affected. We don’t know exactly how many at the moment.”
Mr Woods said Club Land’Or’s letter was specific to the restaurant, adding that around 30 union members were employed at the the resort which borders the Atlantis marina and is immediately opposite the Paradise Island “on” bridge. “There is some concern as it relates to that property,” he added. “It’s a small property, and has been challenged for quite some time. We’re trying to meet with them as early as this week. We just got the letter, so we’re trying to arrange that as quickly as possible. “There’s never a good time for lay-offs, but particularly coming off the Christmas holiday and starting the New Year... At the end of the day we’re trying to resolve all the issues relating to that property once and for all. We’ll find out whether they’ve found a buyer and if this is just the first phase of a transition to that. “We’ll watch it carefully and make sure, whatever happens, whoever is affected is dealt with fairly and gets what they are entitled to.”
$4.21 Chamber chief urges businesses to take precaution on cyber crime By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE ransomware attack on the ZNS radio servers is “a clarion call” for all businesses to focus on their cyber security defences, the Chamber of Commerce’s chief executive urged yesterday. Jeffrey Beckles told Tribune Business that companies “across the board must take every precaution” to guard against, and prevent, attacks such as those that effectively crippled the state-owned broadcaster by locking staff out of their computers and information technology (IT) system. Pointing out that such “vulnerabilities and threats” are now commonplace in a globalised economy, the chamber chief said the ever-growing reliance on electronic data and IT - even among those self-employed, and in home-based and “Mom and Pop” type businesses - meant the risk was only likely to increase. He added that too many Bahamian companies were conducting transactions and important commerce using platforms such as Yahoo and Hotmail, which were “not sophisticated enough” to provide the level of protection necessary to guard against experienced, determined hackers. “The short answer is yes, I believe the ZNS matter is a wake-up call,” Mr Beckles told this newspaper. “Outside of private interests in The Bahamas, maybe security is not necessarily a major discussion. But the unfortunate incident at ZNS is a good example of what could happen. “That doesn’t speak to anything other than we as a community should take every precaution, and the Chamber wants to remind members across the board that part of living in a global village is the vulnerability and threats that come with it.” The Chamber will highlight cyber crime’s impact at its annual Data Protection and Security conference, set to be held in June, but Mr Beckles added of ZNS’ misfortune: “This has happened out of the gate. “It’s an early call to attention for all concerned. Not just businesses, but we have a lot of home-based businesses, self-employed and businesses that are run from home. They need to be equally concerned about protecting data and systems that are tied into security protocols. There are a lot of people out there looking to take advantage of those kinds of businesses running from home on what we think is a secure network.” Mr Beckles added that too many Bahamian companies and entrepreneurs still relied on platforms more suited for social activities, such as gmail, and in doing so exposed themselves to data breaches, hacks and other cyber crimes. “We use Yahoo, hotmail and Gmail platforms,” he told Tribune Business. “The truth is that while they’re nice for social interaction, there are many Bahamians that use these platforms to conduct business. “While they offer a degree of security, they’re not secure enough to secure business transactions. This [the ZNS ransomware] should serve as a wake-up call for us to use appropriate platforms to conduct business.
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PAGE 2, Wednesday, January 16, 2019
THE TRIBUNE
Ultra rich buyers hit town for PI auction MORE than two dozen high-net worth individuals or their advisors are expected in Nassau today to preview two waterfront Paradise Island properties set to be auctioned later this month. Both residences, valued in the millions of dollars, are located in an enclave known as Beach House Villas. Situated on the western end of Paradise Island, each comes with a pool, dock, fitness facilities and concierge services - plus a captain and private boat at the owner’s call. Because the villas - one with more than 5,000 square feet of space, and the other at just over 3,000 square feet - are accessible only by water or on foot after a lengthy walk from Atlantis, potential bidders and agents who have reserved space for the preview event will be taken by yacht to the site. The online auction will then go live on January 29 via the Concierge digital marketplace, and reaches its peak on January 31 with a live bidding process at The Phoenician in Scottsdale, Arizona, one of that state’s top resorts. Villa One was originally listed for sale at $8.495m. At auction, it will sell with a $4m reserve, but Concierge business development executive, Danny Prell, thinks the final bid will be well above this amount. “It’s hard to find a more stylishly and beautifully-designed home in a more alluring setting in The Bahamas,” Mr Prell said. “Paradise Island remains one of the hottest high-end sales markets in the Western Hemisphere because its offerings are unique and unparalleled.
“Where else can you call home where you have a resort like Atlantis with all the entertainment with famous celebrities and athletes, fine dining, sports, golf, tennis, swimming, fishing, boating, gaming, water park, shopping and spa facilities at your fingertips, and a ten minute walk down the beach you are in your own secluded luxurious enclave with a boat and captain awaiting your call if you want to go across the harbour to historic Nassau? This is the stuff fantasies are made of.” The second villa will be available for auction at the same time. That will go to the highest bidder without reserve. That the two properties are being auctioned instead of offered through more traditional marketing means is an indication of the growing role of specialised auction firms in selling high-end properties. Auction specialists such as Concierge Auctions, Mr Prell said, focus on creating and combing
TWO of the five Beach House Villas properties, located on the western end of Paradise Island, will be offered for sale at auction later this month. HG Christie, the Bahamian realtor, is handling the sale in conjunction with Concierge Auctions.
databases for investors with an appetite for luxury properties. “The high net worth individual or sophisticated corporate entity looking at a multi-million dollar property in Scottsdale may also be viewing properties to be sold at auction in The Bahamas, California, New Mexico or Costa Rica,” he added. “They are not like you or me, searching for a nice three-bed, two-bath home with a double garage in a quiet neighbourhood. They are looking for sound investment in a safe environment that affords the
kind of lifestyle that, if you offered it on Airbnb, the going rate would start at $15,000 a night. These are sophisticated buyers who want to pursue interests in the elite properties of the world and that is our specialty.” By the time HG Christie signed with the owner of the two villas on Paradise Island, and teamed up with Concierge for the auction process, Mr Prell had a database of 600 names. Many will receive a phone call or personal note over the next few weeks leading up to the opening of the digital marketplace.
THE TRIBUNE
Wednesday, January 16, 2019, PAGE 3
TOURISM ‘WRENCH’ FEARS OVER US GOVT CLOSURE
By NATARIO MCKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net A CABINET minister yesterday voiced concerns that the partial US government shutdown may “throw a wrench” in expectations for a first quarter surge in stopover visitor arrivals. Dionisio D’Aguilar, minister of tourism, said it remained to be seen how the political impasse in a nation that
DIONISIO D’AGUILAR generates 80 percent of The Bahamas’ air arrivals will impact travel from the US with stopovers projected to be up 16 percent year-over-year for
January and February. “While at the Lynden Pindling International Airport (LPIA) things are seemingly normal, one is always concerned at how long that normalcy will remain in place,” Mr D’Aguilar said. “Obviously people travelling to The Bahamas from the United States are being now advised to arrive at the airport three hours before their flight departs because a number of the security
channels have been shut down. I’m always worried that people want to book a holiday but, with all the confusion and drama, may put off their travel until everything settles. The partial US government shutdown, which has now lasted for 25 days, shows no sign of ending with both president Donald Trump and his Democratic opponents digging themselves into increasingly uncompromising, hardline positions over
the former’s demand that Congress approve $5.7bn in funding for a wall on the US-Mexico border. Mr Trump is refusing to sign-off on any legislation to fund the US government without this financing, and the Democrats are refusing to provide any monies. Some 800,000 US federal employees remain at home without pay as a result, with no end to the controversy in sight. Mr D’Aguilar added: “Right now we’re
expecting air arrivals in January to be up 16 percent; air arrivals in February, 16 percent; March to be down by two percent because Easter falls in April this year; and April to be up by 16 percent. “We’re expecting a very robust first quarter. I’m very encouraged that tourism remains hot and things continue to grow. I don’t want this government shutdown to throw a wrench in what should be very excellent first quarter.”
POLICE TO BE UPGRADED FOR CYBER CRIME THREAT By NATARIO MCKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net A CABINET minister yesterday said efforts are being made to better equip the Royal Bahamas Police Force (RBPF) to tackle cyber crime. Speaking ahead of a Cabinet meeting, Marvin Dames, minister of national security, said Monday’s ransomware attack on the Bahamas Broadcasting Corporation (BCB) illustrated
MARVIN DAMES the emerging technology-related threats that Bahamian authorities now have to tackle. Mr Dames said: “This is the world that we are living
in today. This is certainly the first of its kind that would have been reported here in The Bahamas, where we would have had the servers of ZNS hacked with ransomware. This is common occurrence around the world now.” He added: “The police are currently investigating this particular incident. This is something that in our planning we have certainly been anticipating. As an organisation we are working assiduously to equip the
police force for these type of of modern day challenges. “I think last year it was estimated that ransomware alone as a form of cybercrime, its global cost was somewhere in the area of $5bn. This is not something uncommon around the world. We are currently working with our international partners to determine how we address this particular issue as it relates to ZNS. The police are on top of it. We just have to see where it ends up”.
PORT UNVEILS CUSTOMER SERVICE MOBILE APP THE Grand Bahama Port Authority (GBPA) has unveiled a mobile app designed to improve customer experiences and service at businesses across the island. Ian Rolle, the GBPA’s president, said the quasigovernmental authority’s goal was for 500 residents to download the My Grand Bahama app, launched by its Invest Grand Bahama (IGB) unit, within the first three months. The app was developed to help residents, visitors and investors share realtime experiences around customer service at local businesses. Derek Newbold, the GBPA’s senior business development manager, said: “A positive customer experience can increase customer loyalty and help to drive improvement in consumer spending. Through this initiative, we have positioned Grand Bahama to lead and deliver the best customer experience in The Bahamas. “Our commitment is to provide residents, visitors and investors with the necessary tools to share details about their customer service experiences in real time. The introduction of this app is an important aspect of technology that revitalises our abilities to deliver the best
LAUNCH attendees interacting with the new mobile app. customer experiences that make Grand Bahama the best place to invest, experience and explore.” Glendia Sweeting, programme co-ordinator for the My Grand Bahama customer service campaign, said she has consistently promoted the importance of delivering exceptional customer service through training workshops and presentations over the past two years. She explained: “The My Grand Bahama app helps to recognise excellent customer service and areas
for improvement. We want persons to share their experiences and, more importantly, help us to identify the things that can be done to improve the delivery of service in significantly meaningful ways for success.” She added that the My Grand Bahama app requires the active involvement of users, and encouraged residents and visitors to download the free app from the Google Play and Apple Store. Mr Rolle said: “Our goal is to encourage 500 residents
to download and actively use the app within the first three months of this year. The My Grand Bahama app moves us from talking about customer service to actively identifying the areas that require our attention for improvement and employee recognition. “This is an exciting start to the New Year for us, as we amplify our focus on better customer service experiences. The My Grand Bahama app reflects our ongoing use of technology to address challenges that can negatively impact consumer experiences.”
ZNS chairman, Mike Smith, previously confirmed that the organisation’s servers were hit some time before noon on Monday. He did not disclose the amount of the ransom demanded by the hackers, but said they were based abroad. “Our servers have been hacked,” Mr Smith said, “and we’ve brought in the police and IT advisors and other people to seek
to assist us, but we have a very serious problem where people are seeking to get a ransom. “All the servers are down, so everything you do with a computer you cannot do. We have some real veterans here so everything is being done pretty much manually as much as we could. We have a lot of people advising us as to how we should move forward.”
PAGE 4, Wednesday, January 16, 2019
THE TRIBUNE
Bahamas founder defeats ex-boss over SEC fees FROM PAGE ONE
allegations that he vehemently denies. Mr Alderson, in his defence to the SEC action that has been obtained by Tribune Business, pins the blame on DeVere principal Mr Green by arguing that everything he did was directed, reviewed and approved at the corporate level. He claims to have been “misled” by Mr Green over the level of fees charged to clients, and accuses his former boss of “a conflict” by having ownership interests in custodians and fund distribution companies that provided securities to DeVere’s USbased clients. Mr Alderson’s lawsuit against DeVere, filed last year in the southern New York federal court, was
stayed in favour of arbitration proceedings that ultimately went in the Touchstone founder’s favour, while the SEC’s case against him has currently been placed on hold as a result of the partial US government shutdown that has furloughed most of the regulator’s staff. The Touchstone Advisory founder is understood to have now left The Bahamas and returned to the UK, but sources said both he and his co-accused in the SEC case, Bradley Hamilton were well-known figures in the Bahamian financial services industry when here. The Securities Commission’s 2016 list of licensees names both Messrs Alderson and Hamilton as “registered personnel” for DeVere Bahamas, together with Touchstone Advisory’s current managing director,
Adrian Flambard. Other Touchstone executives, Felicity Rice and Zachary Evans, were also listed as DeVere Bahamas “registered personnel”. Touchstone, whose address is still given as Unit 2 in Sandyport’s Olde Town Marina, appears to have effectively picked up where DeVere Bahamas left off. Its website shows a focus on pension schemes targeted at UK expatriates, the same business its predecessor was involved in, together with wealth management and financial planning services. There is no suggestion that Touchstone and its staff have done anything wrong, and they are not named and involved in Mr Alderson’s litigation with the SEC, which he continues to contest vigorously. The US regulator, in its
lawsuit filed last summer, alleged that both Mr Alderson and Mr Hamilton earned $2.6m and $2.1m, respectively, from a seven percent commission fee paid to DeVere by other financial services firms it did business with. The crux of the SEC’s case is that the duo concealed from their clients, mostly UK expatriates, that these fees were “their primary form of compensation” and that it was “a material conflict of interest”. It is accusing them of “defrauding hundreds of clients and prospective clients resident in the US by misleading them about the benefits of irreversibly transferring their UK pensions to an offshore pension plan while concealing serious conflicts of interest including the lucrative commissions each
stood to - and did - receive”. “In doing so, defendants violated the fiduciary duty that every investment adviser has to its clients and prospective clients: to put the client’s best interests first, employ utmost honesty, and fully disclose all material information, including actual and potential conflicts of interest,” the SEC alleged. “Though Alderson and Hamilton were investment advisers with a fiduciary duty to provide full and fair disclosure of all material facts, they nonetheless provided advice that was self-interested and designed to push clients and prospective clients toward a [UK pension] transfer which, when effected, generated for Defendants millions of dollars in undisclosed commissions.” The SEC alleged that the non-disclosures included
LIQUIDATOR’S NOTICE PURSUANT TO SECTION 138 (6) OF THE INTERNATIONAL BUSINESS COMPANIES ACT We, Sterling (Bahamas) Limited, Liquidator of PNC ASSET MANAGEMENT LTD., hereby certify that the winding up and dissolution of PNC ASSET MANAGEMENT LTD., has been completed in accordance with the Articles of Dissolution. Dated the 19th day of December 2018 Sterling (Bahamas) Limited Liquidator
LIQUIDATOR’S NOTICE
COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law and Equity Side
2012 No. 01065
IN THE MATTER OF ALL THAT piece parcel or lot of land hereinafter referred to as the said parcel of land containing 119.34 acres forming part of two tracts of land totalling 133.64 acres being land previously claimed by the late John Sweeting and the late William Sweeting situate North-Eastwardly of Queens Highway (The Main Public Road) and South-Eastwardly on a road known as and referred to as Free Town Road in the settlement of Deep Creek in the Southern District of the Island of Eleuthera in the Commonwealth of the Bahamas AND IN THE MATTER of the Quieting Titles Act, 1959 AND IN THE MATTER of the Petition of Rosilee Sweeting Wilkinson, Audrey Anderson, Conrad Sweeting, Mervin Sweeting and Lawrence Sweeting. NOTICE Pursuant to an Order of the Supreme Court dated the 15th November, 2018. The Petition of Rosilee Sweeting-Wilkinson, Audrey Anderson, Conrad Sweeting, Mervin Sweeting and Lawrence Sweeting in respect of: ALL THAT piece parcel or lot of land hereinafter referred to as the said parcel of land containing 119.34 acres more particularly described and bounded as follows: North-Eastwardly partly by land said to be the property of the Thompsons now claimed by the Wallace Estate and partly by other land claimed by the Wallace Estate and running thereon for a total distance of One thousand six hundred and five and forty-five hundredths (1605.45) feet AND East by land claimed by the Wallace Estate and running thereon for a total distance of One thousand three hundred and eightynine and thirty hundredths (1389.30) feet AND South-Eastwardly partly by land claimed by the Wallace Estate partly by land claimed by various owners partly by the property of Percy Taylor partly by the property of Rosina Thompson partly by land said to be the property of Ethlyn Thompson and partly by land now or formerly the property of Viola Gardiner and running thereon for a total distance of Two thousand and eleven and twenty–seven hundredths (2011.27) feet AND South-Westwardly by land claimed by the Wallace Estate partly by the property of Percy Taylor partly by the property of Rosina Thompson partly by property of various owners partly by land said to be the property of Ethlyn Thompson partly by land said to be the property of Thomas Thompson partly by land said to be the property of Viola Gardiner partly by the previously mentioned Free Town Road partly by a proposed reservation for a road partly by the property of Myrty Taylor and partly by land said to be the property of James Gibson and running there on for a total distance of Two thousand and forty-five and eight-four hundredth’s (2045.84) feet AND North-Westwardly partly by land the property of Rosina Thompson partly by land said to be the property of various owners partly by a proposed reservation for a road and partly by land said to be property of James Gibson and running thereon for a total distance of Three thousand four hundred and four and sixty-three hundredths (3404.63) feet. The said piece parcel or lot of land has such position, shape, dimensions and boundary marks as are shown on a plan by D. F. Wilkinson dated April of 2009. The Petitioners, Rosilee Sweeting-Wilkinson, Audrey Anderson, Conrad Sweeting, Mervin Sweeting and Lawrence Sweeting, claim to be the legal and beneficial owners in fee simple and possession of ALL THAT parcel of land hereinbefore described and the Petitioners have made application to the Supreme Court of the Commonwealth of the Bahamas under Section 3 of the Quieting Titles Act, 1959, to have their title to the said land investigated and the nature and extent thereof determined and declared in a Certificate of Title to be granted in accordance with the provisions of the said Act. Copies of the filed plan may be inspected during normal working hours at: (a) The Registry of the Supreme Court, Judicial Complex (Ansbacher House), Bank Lane and East Street, Nassau, N.P., Bahamas; or (b) The Chambers of Martin, Martin and Co., Second Floor, Heritage Building/Vet CF Place, No.15 Eight Terrace East, Off Collins Avenue, Centerville, Nassau, N.P., Bahamas. NOTICE IS HEREBY GIVEN that any person having a dower or right to dower or any adverse claim or claims not recognized in the Petition shall on or before expiration of Thirty (30) days after the final publication of these presents file in the Supreme Court and serve on the Petitioner or the undersigned a statement of his or her claim in the prescribed form verified by an affidavit to be filed therewith. Failure of any such person to file and serve a statement of his or her claim on or before the expiration of Thirty (30) days after the final publication of these presents shall operate as a bar to such claim. Dated the 11th day of January, A.D., 2019 MARTIN, MARTIN & CO. Vet CF Place (No.15), 8th Terrace East, Off Collins Ave., Centerville, N.P., Bahamas ATTORNEYS FOR THE PETITIONER
PURSUANT TO SECTION 138 (6) OF THE INTERNATIONAL BUSINESS COMPANIES ACT We, Sterling (Bahamas) Limited, Liquidator of CARAVEL USD FUND LTD., hereby certify that the winding up and dissolution of CARAVEL USD FUND LTD., has been completed in accordance with the Articles of Dissolution. Dated the 19th day of December 2018 Sterling (Bahamas) Limited Liquidator
the commissions DeVere received from third party financial services providers that were equivalent to seven percent of the value of the transferred pensions. “Alderson and Hamilton knew that the seven percent upfront commission constituted their primary form of compensation, and that it was undisclosed,” the US regulator claimed. “Moreover, when clients and prospective clients asked about fees or how defendants were remunerated, defendants misleadingly referred to a one percent advisory fee, while purposely omitting mention of the seven percent upfront commission or their share thereof.” The SEC also alleged that while DeVere’s pension clients were told they had access to over 15,000 different securities investments options, in reality they were restricted to limited choices that “at most was less than 100”. Finally, the US capital markets regulator claimed that clients were misled about the tax advantages of transferring their pensions, as this could be considered “a taxable event” by the Internal Revenue Service (IRS). But, denying all allegations against him, Mr Alderson’s defence blames DeVere’s principal, Mr Green, for any issues relating to non-disclosure and conflicts of interest. He adds that the seven percent “upfront commission” identified by the SEC may have been even greater. “Such compensation was disclosed to clients after such disclosures were directed, reviewed and approved by DeVere and the group’s legal and compliance department under the supervision and control of the founder and controlling principal of the deVere Group, Nigel Green,” Mr Alderson alleged. “Alderson further specifically denies that Alderson knew all the fees being paid to the DeVere Group, as to which information Alderson was misled by Green and others. Alderson further specifically denies that [DeVere] received only seven percent in fees, an amount which he now is informed and believes he was misled about by Green and others, and which may have been higher.” Mr Alderson alleged that the majority of these commissions never went to himself, as they were retained by Mr Green and DeVere. He also blamed his former boss for restricting client investment options, describing this as “a conflict” and claiming he looked after client interests by making investments outside the “preferred” list.
THE TRIBUNE
DPM blasts ‘unpatriotic’ 35% devaluation claim FROM PAGE ONE very damaging to our reputation, and certainly not a very good reflection on us as a people or the body politic. I’m hopeful politics is not behind it.” Admonishing Bahamians to be responsible, Mr Turnquest said persons could support the political party of their choice “aggressively” without resorting to sparking and fuelling claims that could potentially undermine the economy. “It’s unfortunately gone viral,” he told Tribune Business of the devaluation and VAT hike chatter, “and it’s unfortunate we had to respond to it. We watched it for a couple of days hoping it would peter out, but it continues to have legs. “People are asking about it, so it’s important to respond to it and dispel that rumour once and for all. Given the ability of these words and postings to fly around the world, people need to be more responsible in putting out this kind of nonsense.” Calling on Bahamians to analyse social media postings more carefully, Mr Turnquest added: “It’s very unfortunate that people are somewhat gullible to these things. “Now, with What’s App, it allows the most uninformed of us to be a newsmaker, so it’s incumbent upon all of us to take a second look at the story and question the reasonableness of it before taking it to hearty and spreading them ourselves.” Mr Turnquest said he believed “reasonable
people” would immediately see there was no “truthfulness” to the devaluation and VAT hike claims, but “enough of us” were reading and circulating it to force the Ministry of Finance “to clear the air” and prevent any actual economic word. The “D-word”, devaluation, is among those dreaded most by Bahamians because it means the Bahamian dollar will have lost its one:one parity exchange rate with the US dollar. Online purchases and Florida shopping trips would immediately become more expensive, import costs will rise and inflation increases, leading to a drop in living standards for all. “VAT” is feared almost as much, especially since the 60 percent rate hike to 12 percent in last year’s budget is still fresh in everyone’s mind. That, too, has cut purchasing power for many Bahamians, and the combination of the two was likely to spark concern among all who read the post. The Ministry of Finance, rebutting these fears in its own statement, sought to scotch the devaluation claim by pointing out that the Central Bank foreign currency reserves that underpin the one:one US dollar peg currently exceed $1bn and are likely to be further boosted by a strong winter tourism season. It also pointed out that the Government’s fiscal strategy report, released in November 2018, had ruled out the need for any further VAT rate increases over the next three years prior to the
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general election. “The Bahamian dollar is under zero threat of devaluation,” the Ministry of Finance asserted. “The foreign exchange reserves at the Central Bank that underpin the value of the Bahamian dollar are at a very healthy level, topping the $1bn mark. This is fuelled by the current strong performance of the tourism sector, from which the country earns the bulk of its foreign currency.” As for VAT, it pointed to the fiscal strategy report, which said last November: “The Government is of the view that no further increases in the VAT rate will be entertained over the balance of its current mandate.” Whether that specific position may change if revenue continues to underperform, and deficit reduction targets set by the Fiscal Responsibility Act are missed, could be questioned by some. Still, the Ministry of Finance blasted the combined devaluation/VAT hike claims as “completely fictitious” and “wholly untrue”, adding that they stemmed from an unknown source. “The ministry decries the malicious use of false information and the unwarranted concerns such untruths can cause throughout the country,” it added. “The ministry encouraged persons to check with informed sources whenever they encounter noteworthy ‘information’ entering the public domain for the first time.”
Wednesday, January 16, 2019, PAGE 5
PAGE 6, Wednesday, January 16, 2019
Chamber chief urges businesses to take precaution on cyber crime FROM PAGE ONE “The bad guys out there don’t care who we are or understand the business we operate; if they feel there is information they can take from you to use, you will become a victim. It’s a
THE TRIBUNE
clarion call for all of us to pay attention. Bear in mind we live in a globalised economy that has good and bad. This is a good example of that.” Mr Beckles said the chamber was encouraging its members, and all businesses, to hire certified IT security technicians to “take a second look, a third look if they have to” at their data protection and system defences in the wake of the ZNS attack. He emphasised, though,
that such technicians should have the necessary skills and qualifications as “connecting to the wrong people leaves you just as vulnerable. Speak to certified security people who can analyse the needs of their system and provide the basic security for your business”. Cyber-related attacks on both Bahamian businesses and public institutions are nothing new, with the ZNS ransomware demands just the latest example of the growing threat posed to
this nation’s economy and infrastructure by overseas criminals exploiting technology for their own financial benefit. The Central Bank of The Bahamas suffered a “denial of service” event just prior to Christmas 2018, with hackers boasting that its website was an “easy target” for them to take down. The regulator, though, said its website was stabilised within 24 hours of the attack. Still, the hacker allegedly responsible, named
“Shizen”, openly boasted to the website, Rogue Media Labs, that the Central Bank of The Bahamas website was vulnerable because it lacked basic security measures. “The Central Bank of The Bahamas is an easy target,” “Shizen” was quoted as saying. “The website is protected by Cloudfare, but as long as the DDoS (distributed denial of service) doesn’t exceed the one TBPS limit. “I have attacked with a Python script. The website has been taken down for 28 hours before it changed over to Cloudfare. Now, if you make a check-host, you can see an error ‘503 Service Temporarily Unavailable’. The website now works because they have changed the Cloudfare, so I think I’ll try to take it down next with an IRC Botnet or an MIRAI next.” Fidelity Bank (Bahamas), the BISX-listed bank, in
2015 faced similar demands to those made of ZNS when a group called “Hack for Trump” sought a $30,000 ransom payment for not publicly releasing clients’ personal financial data via the Internet. No client data was hacked or revealed, though, with Fidelity saying the group appeared to have breached an external server hosting Fidelity’s public website that held “minimal information”. No ransom was paid. Several Bahamian banks, though, were impacted in 2013 when they were forced to reissue client credit cards after an offshore data processor/acquirer was compromised and customer details revealed. Atlantis, too, has been hit by breaches of customer debit and credit card data, while the Court of Appeals’ website has also been hacked.
FINAL NOTICE Pursuant to the provisions of section 138 (8) of the International Business Companies Act 2000, notice is hereby given that:BLUE TIDES INVEST SA has been dissolved and struck off the Register pursuant to Certificate of Dissolution issued by the Registrar General on 27th December, 2018.
NOTICE
PEBBLE BAY LIMITED N O T I C E IS HEREBY GIVEN as follows: (a) PEBBLE BAY LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.
Kim Thompson Liquidator
(b) The dissolution of the said company commenced on the 9th January, 2019 when the Articles of Dissolution were submitted to and registered by the Registrar General.
MARKET REPORT TUESDAY, 15 JANUARY 2018
t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com
BISX ALL SHARE INDEX: CLOSE 2,099.13 | CHG 0.24 | %CHG 0.01 | YTD -10.32 | YTD% -0.49 BISX LISTED & TRADED SECURITIES 52WK HI 4.50 20.91 7.50 4.90 1.48 0.56 3.92 10.20 6.60 4.89 12.50 2.74 1.78 8.21 6.30 13.20 6.98 4.48 13.50
52WK LOW 3.50 19.17 4.90 3.32 0.90 0.18 2.10 8.70 6.10 3.54 9.00 2.30 1.50 7.25 6.00 10.10 5.85 3.25 12.51
1050.00 1000.00 1000.00 1000.00
1000.00 1000.00 1000.00 1000.00
PREFERENCE SHARES
1.00 103.00 100.00 106.00 105.00 103.00 100.00 10.00 1.01
1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00
SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson
Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00
52WK LOW 100.00
SYMBOL LAST CLOSE AML 4.43 APD 17.43 BPF 7.00 BWL 4.90 BOB 1.46 BBL 0.56 CAB 2.30 CIB 10.20 CHL 6.15 CBL 4.44 CBB 11.01 CWCB 2.47 DHS 1.78 EMAB 8.15 FAM 6.30 FBB 12.85 FIN 6.98 FCL 3.62 JSJ 13.01 CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB
SECURITY Fidelity Bank Note 22 (Series B) +
SYMBOL FBB22
Bahamas Note 6.95 (2029) BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y
BAH29 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407
BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
MUTUAL FUNDS 52WK HI 2.19 4.18 2.02 182.41 158.55 1.59 1.71 1.67 1.10 6.99 8.54 6.15 10.52 11.46 10.46 10.00 8.69 11.79
52WK LOW 1.67 3.04 1.68 164.74 116.70 1.52 1.68 1.61 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20
1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.00 LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
CLOSE 4.43 17.43 7.00 4.90 1.46 0.56 2.30 10.20 6.16 4.44 11.01 2.52 1.78 8.25 6.30 12.85 6.98 3.62 13.01
CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.05 0.00 0.10 0.00 0.00 0.00 0.00 0.00
1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CLOSE 100.00
CHANGE 0.00
107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund FG Financial Preferred Income Fund FG Financial Growth Fund FG Financial Diversified Fund FG Financial Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F
VOLUME
1,000
VOLUME
DIV$ 0.120 1.260 0.000 0.240 0.000 0.020 0.000 0.710 0.220 0.120 0.620 0.060 0.060 0.084 0.280 0.500 0.150 0.130 0.600
P/E 30.1 18.7 N/M 15.2 N/M N/M -4.4 14.6 12.8 28.8 17.6 24.7 8.5 N/M 13.1 16.9 12.1 13.1 20.6
YIELD 2.71% 7.23% 0.00% 4.90% 0.00% 3.57% 0.00% 6.96% 3.57% 2.70% 5.63% 2.38% 3.37% 1.02% 4.44% 3.89% 2.15% 3.59% 4.61%
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.00% 0.00% 0.00% 0.00% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 7.00% 6.50%
6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25% NAV 2.19 4.18 2.02 182.41 158.55 1.59 1.71 1.67 1.09 7.43 8.57 6.57 10.37 11.68 10.32 9.92 8.69 11.79
Dated this 16th day of January, A. D. 2019
EPS$ 0.147 0.932 -0.306 0.323 0.085 0.000 -0.523 0.700 0.480 0.154 0.627 0.102 0.209 0.000 0.481 0.762 0.578 0.277 0.631
INTEREST Prime + 1.75%
YTD% 12 MTH% 3.23% 4.04% 1.03% 1.38% 1.92% 2.39% 2.08% 3.47% 3.35% 5.94% 3.67% 4.43% 0.73% 0.96% 2.88% 3.53% -0.53% 0.27% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69% -0.71% 0.16% 3.96% 7.75% 8.34% 14.88
MATURITY 19-Oct-2022 20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022 NAV Date 31-Oct-2018 31-Oct-2018 26-Oct-2018 30-Sep-2018 30-Sep-2018 31-Oct-2018 31-Oct-2018 31-Oct-2018 31-Oct-2018 30-Nov-2018 30-Nov-2018 30-Nov-2018 30-Nov-2018 30-Nov-2018 30-Nov-2018 30-Sep-2018 30-Sep-2018 30-Sep-2018
MARKET TERMS BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings
(c) The Liquidator of the said company is Repulse Bay Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas
YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful
_________________________________ Repulse Bay Limited Liquidator NOTICE YELLOW STONE HOLDINGS LIMITED N O T I C E IS HEREBY GIVEN as follows: (a) YELLOW STONE HOLDINGS LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000. (b) The dissolution of the said company commenced on the 9th January, 2019 when the Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said company is Leeward Nominees Limited, Vistra Corporate Services Centre, Wickhams Cay 11, Road Town, Tortola, British Virgin Islands. Dated this 16th day of January, A. D. 2019 _________________________________ Leeward Nominees Limited Liquidator NOTICE AZORES LIMITED N O T I C E IS HEREBY GIVEN as follows: (a) AZORES LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000. (b) The dissolution of the said company commenced on the 14th January, 2019 when the Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said company is Leeward Nominees Limited, Vistra Corporate Services Centre, Wickhams Cay 11, Road Town, Tortola, British Virgin Islands. Dated this 16th day of January, A. D. 2019
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225
_________________________________ Leeward Nominees Limited Liquidator
THE TRIBUNE
Wednesday, January 16, 2019, PAGE 7
FAA SAYS IT IS RECALLING MORE AVIATION-SAFETY INSPECTORS By DAVID KOENIG Associated Press FEDERAL officials say they are recalling more aviation-safety inspectors who were idled by the partial government shutdown. A spokesman for the Federal Aviation Administration said yesterday that the agency expects to have about 2,200 inspectors back on the job by the end of this week. That is up from 500 inspectors who were recalled by the end of last week. The FAA has more than 3,000 inspectors who oversee work done
by airlines, aircraft manufacturers and repair shops. Unlike air traffic controllers and airport security screeners, the inspectors are deemed non-essential government workers. They were furloughed when the shutdown began Dec 22. Mike Perrone, president of the Professional Aviation Safety Specialists union, said picketing by the inspectors and media coverage helped pressure FAA to recall more of the workers. “A layer of safety was missing when our inspectors weren’t working,” he said. According to a
Department of Transportation shutdown plan, more than 30,000 FAA employees will be working by the end of the week — 3,113 of them in the aviation-safety organization, which includes the inspectors. Nearly 14,000 FAA workers will remain furloughed under the plan. Neither group will get paychecks during the shutdown. Critical work will continue, but some tasks such as issuing new pilot certificates and approving waivers for drone operations will be suspended, according to the plan.
The FAA move is the latest in a series of steps by federal agencies to bring back workers in piecemeal fashion. The White House directed the Internal Revenue Service to process tax refunds during the shutdown, the Food and Drug Administration started recalling people to resume inspections at some facilities consider riskier for foodborne illnesses, and the Fish and Wildlife Service ordered staffers to return to work at dozens of wildlife refuges so hunters and others can have access to the land.
LEGAL NOTICE International Business Companies Act (No. 45 of 2000) REGSB Investments Ltd. (the “Company”) Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of REGSB Investments Ltd. has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was the 31st day of December, 2018. Luciane Ribeiro Moreno Liquidator
LEGAL NOTICE International Business Companies Act (No. 45 of 2000) OO Investments Fund Ltd. (the “Company”) Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of OO Investments Fund Ltd. has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was the 28th December, 2018. Luciane Ribeiro Moreno Liquidator NOTICE ___________ N O T I C E IS HEREBY GIVEN as follows: (a) PALANTIR HOLDINGS COMPANY LTD. is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 3rd day of September, 2018 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Lynden Maycock of 5th Terrace Centerville, Nassau Bahamas. Dated the 14th day of January, 2019. Lynden Maycock Liquidator of the above-named Company NOTICE ___________ N O T I C E IS HEREBY GIVEN as follows: (a) PALANTIR SOFTWARE LTD. is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 3rd day of September, 2018 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Lynden Maycock of 5th Terrace Centerville, Nassau Bahamas. Dated the 14th day of January, 2019. Lynden Maycock Liquidator of the above-named Company NOTICE ___________ N O T I C E IS HEREBY GIVEN as follows: (a) PALANTIR ECONOMIC SOLUTIONS LTD. is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 3rd day of September, 2018 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Lynden Maycock of 5th Terrace Centerville, Nassau Bahamas. Dated the 14th day of January, 2019. Lynden Maycock Liquidator of the above-named Company