Bond­hold­ers of three com­pa­nies con­trolled by Ja­maican-Cana­di­an in­vestor Michael Lee-Chin are prepar­ing for a de­ci­sive, but as yet un­sched­uled, vote next month that could de­ter­mine the fate of more than US$364 mil­lion in debt ex­pe­ri­enc­ing ‘Events of De­fault’ — and po­ten­tial­ly, a sig­nif­i­cant share­hold­ing in NCB Fi­nan­cial Group, which he chairs.

The com­pa­nies that Lee-Chin used to raise the mon­ey—AIC (Bar­ba­dos) Ltd, Port­land (Bar­ba­dos) Ltd (PBL), and Spe­cial­ty Cof­fee In­vest­ment Com­pa­ny Ltd — have pledged 1.06 bil­lion shares in NCB Fi­nan­cial Group Ltd (NCBFG). Those shares rep­re­sent 41 per cent of NCBFG’s out­stand­ing stock and are cen­tral to Lee-Chin’s con­trol of the fi­nan­cial con­glom­er­ate. NCBFG owns 61.77 per cent of Guardian Hold­ings Lim­it­ed (GHL), which is head­quar­tered in West­moor­ings, Trinidad, and is one of the largest in­sur­ance com­pa­nies in the re­gion.

The bonds is­sued by the three com­pa­nies, to­talling US$364.44 mil­lion are dis­ag­gre­gat­ed as fol­lows