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OLINT return to court

Published:Thursday | January 24, 2008 | 11:36 AM

The Olint Corporation is expected to return to the Supreme Court today in its bid to prevent the National Commercial Bank (NCB), from closing its accounts.

Last month the alternative investment scheme obtained an injunction blocking NCB from closing the accounts.

The Supreme Court also ordered NCB, to make available to Olint all communications between the bank and other commercial institutions about Olint.

The injunction also bars NCB from dealing with accounts of Olint, in anyway that will interfere or disrupt Olint\'s operations.

Olint argued that NCB is in breach of the Banking Act by threatening to close its accounts.

The investment club claims that NCB is forcing it to close its accounts, which are operated on behalf of Jamaicans who are entitled to the protection of the laws, which govern the banking sector.