KINGSTON, Jamaica – Sagicor Investments Jamaica Limited (SIJL) says it is confident in the propriety and legality of its actions, after a press conference held Thursday by iCreate, during which it was mentioned that a lawsuit may be filed against the company.

“We remain steadfast in our commitment to uphold the highest standards of integrity, ethics, and compliance in all our business activities. We are prepared to vigorously defend any litigation that may be filed against us in this matter,” SIJL said in a statement.

Additionally, SIJL said now that all amounts owed by iCreate Limited to the bondholder and trustee have been settled in full, the receivership pertaining to “this matter” has been terminated.

It went on to say that the decisions made that resulted in this repayment reflect our unwavering dedication to fulfilling our fiduciary duty to our clients.

READ: Sagicor to terminate receivership as iCreate pays up

iCreate had reportedly gotten $24 million in funding through a bond issued by Sagicor Investments in 2020, which was issued at an interest rate of 12.5 per cent for five years.

In January, the Jamaica Stock Exchange suspended trading the company’s shares on the junior market, after it had reportedly failed to comply with ongoing requirements as stipulated in Section 14 (a) (i) of Rule 505 in the junior market rule book.

iCreate Limited is a digital and creative conglomerate based in Kingston. Last April, iCreate announced the resignation of founder Tyrone Wilson as its president, chief executive officer and director. Then in November, it was revealed that Wilson muscled his way back onto the company’s board, using his majority holding in the entity.