Blaise Financial Entities

In 1994 Blaise Financial Entities (BFE) collapsed and the government of Jamaica closed BFE due to insolvency. Government-owned Financial Institution Services (FIS) had to pay out more than $600 million to depositors. FIS sued Mr. and Mrs. Panton, former directors of Blaise, and three of the Panton's companies, claiming that unsecured loans amounting to $600 million were made by Blaise financial entities to Pantons' companies. (Jun-22-06) [JAMAICA GLEANER]

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