Antigua, October 21, 2013 – SDC was placed in liquidation on October 14, 2013 resulting in the regretful termination of its staff. Notwithstanding the necessity of this action, the Liquidators are encouraged to learn that several of SDC’s former employees are already meeting with prospective employers. The Liquidators could not retain the SDC staff as it was not fiscally sustainable.
With an understanding of the liquidation process’s duration and hardship, the Liquidators advanced funds from the SIB estate to make a payment of all severance due from the period that the company was restructured in 2009. All outstanding wages were paid. The remaining amounts (severance prior to 2009 restructuring, vacation, etc.) will form a claim in the liquidation process.
Additionally, the Liquidators committed to paying local creditors in full provided realizations allow for this and that claims will be paid as soon as assets are sold and the funds become available. The Liquidators are immediately moving to complete an expeditious sale of all assets and already have considerable interest in a number of the properties.
For further information related to SDC, please see the SDC tab at www.sibliquidation.com for information posted by the Liquidators.
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