Providenciales, 28 Oct 2014 – One on one meetings will start next week for islanders who had invested in savings and other plans with British Atlantic Financial Services. The company, which had been purchased a few years ago by the Methodist Church, is sadly headed to liquidation.
Reports are that about $100,000 in insurance plans will be lost if this liquidation, which does seem imminent, goes through. One family telling Magnetic Media they have been putting money into their plan for over 20 years. This is at least the fourth financial institution to go under in the Turks and Caicos in six years.