Embattled digital media company iCreate, founded and headed by Tyrone Wilson, can breathe a sigh of relief as it will not imminently come under the receiver’s guillotine.

Our Today understands that iCreate, which last year technically defaulted on a J$24 million bond with Sagicor Investment, has now paid all sums due.

The terms were for five years at an interest rate of 12.5 per cent.

Sagicor has confirmed that all amounts owing from iCreate Limited to the bondholder and the trustee have been paid in full.

Consequently, the receivership will be terminated. Sagicor is happy at this outcome and wishes iCreate all the best going forward.

This is a good ending to what was a sad chapter.

Nevertheless for iCreate it is a new year, bad start. Last year was a turbulent one and this year there are already ominous manifestations.

Earlier this month, the Jamaica Stock Exchange again suspended trading of its shares on the junior market, citing that iCreate “ failed to comply with ongoing requirements as stipulated in Section 14 (a) (i) of Rule 505 in the junior market rule book.

“The notice of suspension shall remain in force until iCreate has responded to the satisfaction of the JSE to all matters concerning its compliance with the JSE Junior Market Rule.,”

On a day when iCreate should be popping champagne and its young team drinking Hennessy after being given a lifeline comes news that the company secretary Demetrie Adams quit. He will be replaced by Jahmar Clarke.

iCreate must now get on a sound footing and put a stop to the revolving door of personnel. It has to settle down and focus on the business at hand, ensuring it is compliant and abiding by the rules of corporate governance.

The company has potential but always seems to be bedevilled by bad news. Now given this fresh start, it has to knuckle down and perform.