Sagicor Investments Jamaica Limited says it is prepared to vigorously defend any litigation that may be filed against it by iCreate Limited.
The digital and creative company announced today that legal action will be taken against Sagicor Investments after the company was placed in receivership for what was described as a failure to meet payment obligations.
iCreate has repaid a $24 million bond that had been issued by Sagicor Investments.
At a media briefing this morning, CEO of iCreate Tyrone Wilson said the company is challenging the rationale behind the receivership.
But Sagicor Investments says the decisions made that resulted in the repayment of the bond reflect its unwavering dedication to fulfilling its fiduciary duty to clients.
Sagicor added that it is confident in the propriety and legality of its actions.
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