Sagicor Investments Jamaica has fired back at the threat of a lawsuit levelled by its client iCreate Limited, which called a press conference this morning to speak about the matter.

Sagicor Investment today confirmed that it has terminated the receivership it placed iCreate in late last year, after the creative and digital media company defaulted on a J$24 million bond. The receivership was terminated after all outstanding sums were paid by iCreate.

In a prepared statement, Sagicor investments stated: “(Sagicor Investments Jamaica Limited) SIJL once again confirms that all amounts owed by iCreate Limited to the bondholder and trustee have been settled in full. The decisions made that resulted in this repayment, reflect our unwavering dedication to fulfilling our fiduciary duty to our clients.”

Given this development, the investment banking entity is pleased to announce that the receivership has been terminated. However, the company said it is aware of today’s press conference by iCreate in which it was mentioned that a lawsuit may be filed against it.

“We wish to reassure our stakeholders that Sagicor Investments is confident in the propriety and legality of our actions. We remain steadfast in our commitment to uphold the highest standards of integrity, ethics, and compliance in all our business activities. We are prepared to vigorously defend any litigation that may be filed against us in this matter,” Sagicor Investments said in its statement.