Nation e-Edition

$10m short

$10m short David Dulal Whiteway (FP)

By GERALYN EDWARD Business Editor | Wed, January 23, 2013 - 12:10 AM

SOME FORMER Barbados National Bank (BNB) shareholders are still  to collect almost  $10 million in payments from Republic Bank Limited for shares  they sold the company last year.

This was revealed yesterday as some expressed concern that they were yet to receive their cash, more than  a week after the  promised January 14 payment deadline.

However, Eric Scott, manager of Republic Finance & Trust (Barbados) Corporation – the company handling  the transaction for the Republic Bank Group  in Trinidad – said the problem did not rest  with Republic Bank.

And his boss, managing director of Republic Bank group in Trinidad David Dulal Whiteway, told the MIDWEEK NATION that his bank had transferred $167.35 million – all the funds needed to support its purchase of the former BNB shares.

Please read the full story in today’s MIDWEEK NATION, or in the eNATION edition.

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Posted by SANDREA BUTCHER 1 year, 3 months ago
To, the bank's credit, some disbursements were made in December.

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Posted by Tony Waterman 1 year, 3 months ago
The Shares were sold to Republic Bank, but Eric Scott is quick to say that the problem did not rest with Republic Bank. well Could Mr.Scott Tell us who the Problem is resting with???
Then, David Dulal Whiteway, told the MIDWEEK NATION that his bank had transferred $167.35 million – all the funds needed to support its purchase of the former BNB shares. Again could Mr.Whiteway tell someone /anyone where this Huge some of money is presently residing?????
and you people that are owed should start putting some pressure on these people to come up with you Money Instantly. Last year is gone beyond recall and so is Jan 14th 2013.

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