Dr Clarke Refutes SSL Winding Up Denial

Finance Minister Dr Nigel Clarke has brought proof to the discussion regarding claims of Stocks and Securities Limited (SSL) attempting to wind up its operations amid the unprecedented fraud matter.

On Wednesday, Directors and Management at SSL broke their silence regarding the ongoing fraud investigation into missing billions, dismissing as untrue a media release from the Finance Minister and the Financial Services Commission (FSC), that they attempted to wind up operations. The 7-page refutation flatly denied these claims. However, the Dr Clarke was not having it; he came out swinging on Twitter Thursday with copies of what he dubs proof of the winding-up attempt.

The documents entitled the Companies Act voluntary winding up were signed by Hugh Croskery, Jeffery Cobham, and others from SSL’s, Board, and Management. The Declaration of Solvency states that the majority of SSL’s Directors declare that having completed an inquiry into SSL’s affairs they were of the view that the company would be able to pay its debts in full within a period of 12 months from the commencement of winding up. It continues, “we append a statement of the company’s assets and liabilities as at January 31, 2019, being the latest practicable date before this declaration…the document to the companies office of Jamaica was stamped on January 16, 2023.

The Finance minister in his caption to the post wrote please see below the “members’ voluntary winding up” resolution which formed the basis of the successful application by the FSC to the court for an injunction last week.

Several reactions followed the tweet, some users declaring, Finance Minister pulls a “this you”, another adding, “if a one thing this administration ago show receipts.”

Meantime, at least one user tweets, “it is clear that u are in the right here Dr Clarke! Release everything u have under your control so the public can see where the truth lies!”