Lawyers representing the investment company, OLINT Limited
said the further extension of the injunction granted to it by the court on
February 15th, was anticipated.
OLINT had first obtained the injunction on January 11th barring the National Commercial Bank (NCB) from closing its accounts.
NCB claimed it took action because OLINT is an unregulated company operating in breach of the Securities Act.
Georgia Gibson-Henley, a member of the legal team which represents OLINT told the RJR News Centre that the extension of the injunction is to facilitate the hearing of an action brought against NCB.
"The Court heard submissions from both (parties) in an application to bar Michael Hylton from (representing) NCB. (The Judge) reserved judgment until February 29th. As a result, the injunction had to be continued because the court, in those circumstances could not do otherwise, pending the outcome of the application to bar counsel for NCB," she said.
OLINT wants to bar Mr. Hylton as counsel for NCB as he is a former Solicitor General and one time Chairman of the Financial Services Commission (FSC).
OLINT has been concerned that Mr. Hylton was sitting on the board of the FSC when the regulatory body moved against it last year.
OLINT had first obtained the injunction on January 11th barring the National Commercial Bank (NCB) from closing its accounts.
NCB claimed it took action because OLINT is an unregulated company operating in breach of the Securities Act.
Georgia Gibson-Henley, a member of the legal team which represents OLINT told the RJR News Centre that the extension of the injunction is to facilitate the hearing of an action brought against NCB.
"The Court heard submissions from both (parties) in an application to bar Michael Hylton from (representing) NCB. (The Judge) reserved judgment until February 29th. As a result, the injunction had to be continued because the court, in those circumstances could not do otherwise, pending the outcome of the application to bar counsel for NCB," she said.
OLINT wants to bar Mr. Hylton as counsel for NCB as he is a former Solicitor General and one time Chairman of the Financial Services Commission (FSC).
OLINT has been concerned that Mr. Hylton was sitting on the board of the FSC when the regulatory body moved against it last year.
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