September 12 – Supreme Court Judge, Mr. Justice Cooke threw out the much publicized attempt by Towerbank Ltd., a Panamanian bank to wind up Jamaica Broilers Group, for non-payment of US$153,000 which Towerbank had alleged was due under a letter of credit arrangement with now liquidated Bahamian bank, First Trade International Bank and Trust. Towerbank. Towerbank claimed to have assigned the debt from First Trade.
Jamaica Broilers denied that it owed the sum and refused to pay the amount demanded by Towerbank As a result, Towerbank began winding up proceedings in the Jamaican courts on April 9, claiming that Jamaica Broilers was unable to pay its debts, based on its alleged failure to pay the debt claimed.
