Banking & money
Ex-bank boss sues for wrongful dismissal
(CNS): Ormond Williams, who was president of Cayman National Bank for more than 15 years before he was unexpectedly fired by its board of directors last November, has filed a legal claim in the Grand Court for wrongful dismissal. According to the court documents, Williams said he was sacked without “proper legal justification” and is […]
Former chairman’s daughter takes over bank
(CNS): Janet Hislop has been appointed as President of Cayman National Bank, pending regulatory approval. Hislop, who takes up her position with CNB after eleven years as the chief officer of Deutsche Bank (Cayman) Limited, has a deep connection to Cayman National, as her father, Benson Ebanks, was a founding shareholder and chairman of the board.
Cannot transfer funds from PayPal to Cayman account
I have funds in my PayPal account that I would like to transfer to my bank account in Cayman. PayPal is really useful for receiving money from countries around the world and I tend to use it a lot. I have previously transferred money from PayPal to a bank account in the US but getting […]
CIG looks to smooth local charity troubles
(CNS): More than 400 churches, sports clubs, community groups and charities in the Cayman Islands that are registered with government have been experiencing major administrative headaches as a result of the Non-Profit Organisations Law, 2017, which was implemented to deal with the risks posed by offshore non-profit entities. So, in moves to help local charitable organisations […]
Deutsche Bank raided over Panama Papers link
(CNS): German law enforcement officials have raided the Frankfurt headquarters of Deutsche Bank in a money laundering investigation connected to the notorious Panama Papers. German prosecutors allege that two staff members at the bank helped clients launder money from criminal activities using offshore accounts in the British Virgin Islands. During raids of a number of Deutsche Bank […]
Bank denies any genuine counter-offer
(CNS): Cayman National Corporation Ltd has stated that the bank has not received any legal or real offer to purchase its shares other than the deal it has made with Republic Bank Trinidad and Tobago (Barbados) Limited. Although a minority of the shareholders claim that they have pulled together a consortium that would see the bank […]
Determining increases in mortgage interest
If the US prime rate is 5.25 percent for the month of October 2018, by how much percent should the banks in the Cayman Islands increase their mortgage interest rate?
Cayman National board fires 15-year president
(CNS) UPDATED: The president and chief executive of Cayman National Corporation, Stuart Dack, has said that the termination of Ormond Williams, who has been the president of Cayman National Bank for more than 15 years, was a decision by the CNB board of directors and was unrelated to the potential sale of a majority shareholding […]
Cayman National sells off 54% of stock
(CNS): The Republic Bank of Trinidad and Tobago (Barbados) Ltd has bought a majority share in Cayman National Corporation just over two months after it made an unsolicited offer. An announcement from Republic said that at the end of business on Friday it had received notice from Cayman National that shareholders were willing to sell more than […]
Shareholders pave way for bank sale
(CNS): Despite some dissenting voices, the majority of shareholders of Cayman National have voted to remove a restriction that prevented any single entity from owning more than 10% of the bank’s shares in order to pave the way for its sale to a regional financial corporation. Following a meeting of shareholders Tuesday, they voted by a […]
CNB reveals directors’ gains in bank sale
(CNS): A circular released to Cayman National Bank shareholders on Friday, ahead of the general meeting tomorrow evening, about the bank’s takeover by a regional financial corporation revealed what the directors on the board, the majority of which have recommended that shareholders accept the sale, will gain. Former politician Truman Bodden has the largest number […]
