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AMCL Holdings settles with Barbados, Shipping & Trading


 


The Securities Commission of Barbados and Sagicor Life Inc. [Sagicor] announce that the legal action brought against AMCL Holdings Limited [ANSA McAL] and Neal and Massy Holdings Limited [Neal & Massy] has been resolved on terms acceptable to all parties to the action. All claims by and against ANSA McAL and Neal and Massy have been resolved and settled.


Each party, while pursuing its legitimate interests, considers that its actions have been taken in good faith having regard to all relevant securities legislation.


In agreeing to the terms of this compromise and agreement AMCL Holdings  remains satisfied based on advice from Senior Counsel in Trinidad and Tobago and Barbados that its right to withdraw its offer was legally justifiable.