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Meeting involving representatives of Michael Lee Chin and bondholders of Speciality Coffee Company and Portland Barbados postponed

A scheduled meeting between representatives of Michael Lee Chin and bondholders of the Speciality Coffee Company and Portland Barbados has been postponed.
 
The meeting, which was scheduled for last week, was aimed at addressing missed bond payments.
 
A new date is being finalised. 
 
Mr. Lee Chin says his representatives will present proposals at the rescheduled meeting for nine bonds issued by Portland Barbados, along with one issued by the Speciality Coffee Company.
 
He says negotiations with bondholders are continuing, with the aim of ensuring they are satisfied with his proposals for repayment.
 
Two of the Portland bonds were due to mature in August 2024 and January 2025, while two others are scheduled for payout in August 2025 and August 2026.
 
But Mr. Lee Chin is now seeking extensions on these dates, due to what he describes as liquidity challenges.


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