THE Turks and Caicos Islands High Court is to rule next January on whether or not to lift the order freezing the assets of embattled Olint Corporation Limited boss David Smith.

Smith's assets in the Turks and Caicos - where Olint is now based after moving from Jamaica in the face of mounting pressure - were frozen on July 11 by way of a court order as part of an investigation by the police there into allegations of financial crimes.

On Monday, Smith's defence team, headed by attorney-at-law Lord Gifford, made in-chambers submissions before Justice Richard Williams in the High Court for the restriction to be lifted.

The matter was adjourned until January 9 for further hearing and a ruling.

The drive by Smith to have the assets released is to make good on a promise made in July to make payments owing to investors, the Observer was told.

Olint is also locked in legal battles in Jamaica with the National Commercial Bank, which wants to close its accounts and with the Financial Services Commission.

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