Sun | Dec 10, 2023

Who’s the new temporary manager of SSL?

Published:Monday | January 30, 2023 | 12:36 AM

Kenneth Tomlinson of Business Recovery Services Limited (BRSL) was last week appointed temporary manager and special auditor of fraud-hit investment firm, Stocks & Securities Limited (SSL).

Here are 10 things about Tomlinson and BRSL:

1. Kenneth Tomlinson is a licensed insolvency practitioner and trustee under the Insolvency Act, 2014.

2. Tomlinson is a former board member of the Students’ Loan Bureau. He resigned in August 2010.

3. Tomlinson was appointed by the Supreme Court to offer temporary/special management of Cash Plus Industries Limited.

4. Tomlinson was appointed receiver by the Supreme Court over monies owed by the Jamaican Government to PDVSA for oil delivered to the island under the PetroCaribe Agreement signed in 2005.

5. BRSL was established in May 2000 to undertake major assignments in both the public and private sectors, with the primary objective of undertaking insolvency appointments, receiverships, and temporary management, among other services.

6. BRSL provided financial advisory services on Palmyra Resort and Spa, the largest receivership assignment in Jamaica.

7. Team members of BRSL assisted the Financial Sector Adjustment Company (FINSAC) in the late 1990s in respect to the sale and winding-up of numerous entities.

8. BRSL gave assistance to the implementation and monitoring of the NCB Group Limited rehabilitation programme under the Financial Assistance Programme Agreement brokered by FINSAC in 1998 and 1999.

9. BRSL has assisted a number of private and public institutions with insolvency issues. Among the public entities are the Ministry of Finance and the Public Service, Bank of Jamaica, the Financial Services Commission, and the Urban Development Corporation.

10. BRSL has provided loan recovery and asset management services to the Students’ Loan Bureau, National Housing Trust, National Housing Development Corporation (Housing Agency of Jamaica), Development Bank of Jamaica, Singer, Sagicor, Jamaica Mortgage Bank, RBTT Bank, National Commercial Bank, Bank of Nova Scotia, COK Co-operative Credit Union, and Churches Co-operative Credit Union.