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Grenada files petition

Published:Wednesday | April 23, 2008 | 12:14 PM

The government of Grenada has filed a petition for the reorganisation of the financially strapped Capital Bank International Limited.

Yesterday, Minister of Finance, Dr. Keith Mitchell said the government was waiting on a date for the hearing of the petition.

Earlier this year, the government shut down the bank after a series of complaints from customers over its failure to honour requests for withdrawals.

Capital Bank International was ordered to close, after government obtained a court order transferring control of the bank to a receiver.

All 12 branches of Capital Bank throughout the tri-island state have been ordered closed.