May 10, 2021

Freeport’s Lucaya Ridge and Bahamian Marina subdivisions, plus a 13.56-acre tract at Polaris Drive.

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Bank-of-the-Bahamas-1Bahamas Resolve may even have inherited a whole subdivision, since the documents Tribune Business has obtained describe the collateral as including a plethora of lots in the Britannia Estates Subdivision.

Some $1.4 million worth of advances to Landstar Concrete Products are secured on its business assets and property located on a one-acre site known as ‘Block Y’ in Freeport’s Civic Industrial area.

And the $1.537 million that was lent to Ruiz Munnings and his businesses by June 2007 is secured on apartment units in the Blake Road area of western New Providence.

Also out west is a property in the No. 1 Lyford Cay subdivision that was used as collateral for a $1.834 million loan by Bank of the Bahamas to Lock Resorts Ltd and the Lockharts.

Documents speak to a $225,000 advance to Lock Resorts that was secured on 1.245 acres near Gambier Village, and a $460,269 mortgage ‘upstamping’ that took their total credit facilities to $2.294 million.

Campbell’s Electric Company and Stanley Gustavious Campbell obtained $1.53 million from Bank of the Bahamas, records show, which was secured on real estate in Shirley Heights, Klonaris Acres, Pyfrom Subdivision and Carey’s Subdivision.

Bank of the Bahamas extended $1.4 million in credit to Philip Lundy and East Street Investment Company, while the security for the loans to Anthony Erasto Albury and Anthony Edward Albury includes a two-storey commercial building housing shops in Shirley Heights.

For more on this story go to: http://www.tribune242.com/news/2015/sep/09/bob-bad-bank-got-security-realtors-94m/

IMAGE: http://www.jamaicaobserver.com/assets/10463215/Bank-of-the-Bahamas.jpg

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