Cayman businessman ordered to find US$14million
(Jamaica Gleaner): A Jamaican judge has ordered businessmen Delroy Howell and Kenarthur Mitchell to account for and repay any shortfall from US$14 million that a Turks & Caicos Islands-based firm – First Financial Caribbean Trust Company (FFCTC) – claims was leaked from its coffers when Howell and Mitchell were in control of it. In the summary judgment, Justice Patrick Brooks has also ordered that First Financial Jamaica, one of a slew of companies controlled by Howell under the First Financial banner, repay over J$146.36 million that was conceded to a debt to FFCTC and "any other monies found to be due to the claimant".
Howell, Mitchell, First Financial Jamaica as well as three other defendants – First Financial International Group, First Financial Caribbean Limited and First Financial Caribbean (Holdings) – were also ordered to pay profit/rent, the amount of which is to be the subject of mediation, for use of FFCTC resources and property that was transferred to them.
Category: Business
