The Grand Court has ruled that Butterfield Bank (Cayman) Ltd. did not act dishonestly when it failed to spot multiple fraudulent transactions from 2008-2010, causing a captive insurance company to be fleeced for about US$529,000.
The Grand Court has appointed provisional liquidators to Abraaj Holdings, a Middle Eastern private equity firm facing allegations that it has misused hundreds of millions of dollars, including funds from the Bill & Melinda Gates Foundation and the World Bank’s International Finance Corporation.
At Thursday’s celebration for the latest cohort to complete Cayman’s Drug Rehabilitation Court, 13 people who are still in the program sat in the back of the courtroom to observe the graduation ceremony.
Acting Governor Franz Manderson said there is “no basis” for taking disciplinary action against Health Ministry Chief Officer Jennifer Ahearn for allegedly giving a false answer to the Public Accounts Committee last October.
Cayman imported roughly $876 million worth of goods in 2017, the most since 2008 when $941.9 million of goods were imported here, according to the Economics and Statistics Office’s recently released foreign trade statistics report.
“Your Excellency, the parade is formed up and ready for your inspection, sir,” Police Inspector Courtney Myles announced to Governor Anwar Choudhury on Saturday morning at the Queen’s Birthday parade and ceremony.
A group of aviation officials and media squeezed their way through a crowded Owen Roberts International Airport terminal on their way to observe the landing of Southwest Airlines’ first flight here from Houston on Saturday.
Regular readers of the Cayman Compass and other local media are surely used to seeing headlines over the years such as “Cruise dock deal on track,” “Government gives green light to George Town cruise dock,” and “Government plans to go ahead with cruise dock.”
Though officials have confirmed that the price of the Owen Roberts International Airport upgrade will exceed its original $55 million estimate, the project’s final cost will not be made public until 2019.
The Cayman Islands Airports Authority has been tight-lipped on the status of the bidding process for businesses to win retail space in Cayman’s new airport terminal – a process that may have to be restarted due to the CIAA missing its own deadline for dealing with applications.
More than 1,000 British Virgin Islands residents took to the streets to protest the United Kingdom on Thursday, the same day Queen Elizabeth II gave royal assent to legislation that forces British Overseas Territories to implement public company registers by December 2020.
The Caribbean Utilities Company is in settlement talks with U.S.-based manufacturer Howard Industries Inc., which CUC claims sold defective electrical equipment that cost the power company “millions of dollars” in damages and potentially endangered Cayman’s residents.