Carlos Hill Disagrees with Receiver on State of Cash Plus

Cash Plus Boss, Carlos Hill has taken issue with Receiver. The report was released under the letter head “Friends of Cash Plus”. In Summary Carlos Hill says

  • The report has inaccurate data
  • The inaccuracies tarnishes the reputation of Cash Plus and its affiliates
  • The move to appoint a receiver was premature as the company was arranging an injection of cash to repay lenders
  • On June 12, the Cash Plus will seek an injunction preventing the “company’s assets from being sold or transferred without the approval of the Supreme Court”

The release is published by Heather Little White and Associates. There are some questions that Carlos Hill and Friends need to answer. Did he not say on television that Cash Plus had invited this receiver? He did not seem perturbed or annoyed about it or was he being coerced?

A news story in the Jamaica Gleaner of March 30, 2008 reports, “However, in a paid statement in today’s Gleaner, the company states that it was unable to meet its deadline because of the lack of banking facilities available to it. It claims that the court has already given approval for the appointment of a temporary manager and says it will commence disbursements to its lenders on April 14.”

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