Search results for : firms

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News Article

August 25, 2010
CLICO liquidator targets 77 firms

By NEIL HARTNELL

Tribune Business Editor

CLICO (Bahamas) liquidator is attempting to obtain records on 77 companies he believes are connected to the insolvent insurer's Trinidadian boss, Lawrence Duprey, as he continues his asset hunt on behalf of Bahamian policyholders and creditors, Tribune Business can reveal.

Attorneys representing Craig A. 'Tony' Gomez, the Baker Tilly Gomez accountant and partner, have issued subpoenas seeking numerous documents from US-based companies that acted as bankers/registered agents to entities that formed part of Duprey's Florida-based empire, but these are being resisted by his Florida-based law firm.

In a motion filed with the Florida cour ...

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News Article

February 24, 2011
Three firms take legal action against Customs

FREEPORT, Grand Bahama - Three companies are taking legal action against the Department of Customs over its decision to require Grand Bahama Port Authority (GBPA) licensees to obtain a letter of good standing from the National Insurance Board (NIB) to receive authorization to purchase goods in bond over the counter.
An application for leave to bring judicial review proceedings against the comptroller of Customs was filed yesterday by Smith Point Limited, Callenders and Co., and Bahamian Outdoor Adventure Tours Limited on the grounds that there is no lawful basis on which Customs can impose such a requirement on a licensee before issuing an over-the-counter letter.
The application, filed by attorneys o ...

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News Article

November 03, 2010
Firms Shortlisted for Produce Exchange Partnership

A $500,000 amount is being pegged to the works that have already been completed in the $1.2 million Produce Exchange upgrades -- with government already shortlisting several front runners for taking that operation over.


Minister of Agriculture Larry Cartwright has confirmed to Guardian Business several players within the industry have been unofficially identified for the job.

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News Article

November 09, 2011
OECD 'WRONG' FOR ACCOUNTS PRESSURE ON DOMESTIC FIRMS

By NEIL HARTNELL

Tribune Business Editor

A PLP MP yesterday suggested the Government had temporarily withdrawn three Bills for fear that in complying with the Organisation for Economic Co-Operation and Development's (OECD) record-keeping demands they would create a bureaucratic and 'red tape' nightmare for domestic Bahamian businesses.

Ryan Pinder, a tax attorney and the current representative for Elizabeth, told Tribune Business that the package of company-related legislative amendments recently tabled in the Senate was more notable for what it did not contain, namely changes to the Companies Act, General Partnership Act and Business Licence Act.

The Bills currently before the ...

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News Article

December 22, 2010
Recovery optimism tempered among Bahamian firms

By ALISON LOWE

Business Reporter

alowe@tribunemedia.net

Businessmen yesterday expressed some optimism that economic conditions and the business environment in the Bahamas will improve in 2011, but recovery tempered by a variety of factors - rising oil prices, government intervention, Bahamian consumer debt levels and the effectiveness of recent economic stimuli in the US.

President of the Bahamas Chamber of Commerce, Khaalis Rolle, said he was "cautiously optimistic" for Bahamian economic prospects next year if conditions improve in the US, but with several caveats.

"I am beginning to see some levelling off, but 2011 is going to be all about recovery. To the extent that the Governme ...

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News Article

September 27, 2010
Distributor: Misunderstanding by firms on Similac recall

By GENEA NOEL
Freeport News Reporter

Several stores in New Providence have insisted that all Similac products made by Abbott Labs be removed from their shelves despite confirmation that only certain Similac-branded products were affected by the recent recall.
The recall was made following an internal quality review by the company, which detected the remote possibility of the presence of a small common beetle in the product produced in one production area in a single manufacturing facility.
According to officials from the Nassau Agencies Limited, local distributors for Similac, since the recall of some brands of the product last week, major stores have been requesting that their entire supply be re ...

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News Article

January 27, 2011
Freeport firms suffer 30-60 sales declines

By NEIL HARTNELL

Tribune Business Editor

With major Freeport businesses and wholesalers having suffered year-over-year top-line sales reductions of between 30-60 per cent for January, a leading attorney told Tribune Business that central government pressure meant that "the rule of law and governance under the Hawksbill Creek Agreement has nearly complete collapsed".

Fred Smith QC, the Callenders & Co attorney and partner, warned that various government initiatives, such as Customs' demand for a National Insurance Board (NIB) Letter of Good Standing before bonded letters were renewed, were in danger of "throwing the baby out with the bath water" and "could easily k ...

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News Article

February 22, 2011
'20-30' contract value loss if given to foreign firms

By NEIL HARTNELL

Tribune Business Editor

Between 20-30 per cent of the contract value leaves the Bahamas when construction projects are given to foreign contractors, the Bahamian Contractors Association's (BCA) president telling Tribune Business that the $400 million worth of work pledged to Bahamians by Baha Mar would "have a profound trickle down effect into our economy".

Explaining that this $400 million would be paid directly to Bahamian contractors, large and small, by the $2.6 billion Cable Beach developer, Stephen Wrinkle said that if the same sum was paid to foreign contractors, only around $300 million at best would find its way into the Bahamian economy - a difference o ...

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News Article

August 19, 2013
'Limits on firms paying VAT is discriminatory'

THE proposal from government to only require Value Added Tax from companies making more than $50,000 in profits is discriminatory, according to director and operations manager of Nassau Motor Company Rick Lowe...

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