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Bond­hold­ers of com­pa­nies con­trolled by Ja­maican Michael Lee-Chin have is­sued a strict ul­ti­ma­tum: a pay­ment of US$94.1 mil­lion by the end of De­cem­ber 2025, or face the po­ten­tial seizure of a sub­stan­tial share­hold­ing in the NCB Fi­nan­cial Group (NCBFG).

The bond­hold­ers of the three com­pa­nies con­trolled by Lee-Chin—AIC (Bar­ba­dos) Ltd, Port­land (Bar­ba­dos) Ltd (PBL), and Spe­cial­ty Cof­fee In­vest­ment Com­pa­ny Ltd—at­tend­ed a town hall meet­ing in Kingston on Wednes­day to re­ceive an up­date on ef­forts to re­solve the over US$364 mil­lion in delin­quent debt across the three en­ti­ties.

The out­stand­ing debt is se­cured by about 1.06 bil­lion shares in NCBFG, which rep­re­sents ap­prox­i­mate­ly 41 per cent of the fi­nan­cial con­glom­er­ate’s out­stand­ing stock. Lee-Chin is chair­man of NCBFG and is the com­pa­ny’s largest share­hold­er.