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Last Thurs­day, my col­umn was pub­lished un­der the head­line, “Are evil forces con­spir­ing to crash Re­pub­lic Bank?” and hope­ful­ly, most of the peo­ple who read that com­men­tary be­yond the head­line ap­pre­ci­ate that there is sig­nif­i­cant un­ease about Cor­po­ra­tion Sole nom­i­nat­ing a ma­jor­i­ty of the di­rec­tors to the board of Re­pub­lic Fi­nan­cial Hold­ings Ltd (RFHL).

The main rea­son for the un­ease is that both the pre­vi­ous ad­min­is­tra­tion and Cli­co, in the 1990s, owned a ma­jor­i­ty of the shares in the bank but opt­ed not to ap­point a ma­jor­i­ty of the di­rec­tors. We are in un­chart­ed wa­ters!!

At its an­nu­al meet­ing on De­cem­ber 15, the share­hold­ers of RFHL are ex­pect­ed to ap­prove, by a ma­jor­i­ty vote, Cor­po­ra­tion Sole’s nom­i­na­tion of sev­en di­rec­tors to the board of the re­gion’s largest fi­nan­cial ser­vices provider.