Sir Michael was right in his finding, assuming of course UBS had no prior knowledge of the impairment in value or transfer restrictions that would impact the security for the debt at the time it was sold/assigned to Standard Chartered. Consistent with the normal conventions between banks for inter-bank transactions such as this one, from the very instant UBS received the $34.2 million from Standard Chartered, UBS was no longer holding for the benefit of itself the security for the debt purchased by Standard Chartered. At that very instant UBS became a de facto custodial agent/trustee for Standard Chartered in holding the security for the debt now owned by Standard Chartered, which custody agent/trustee relationship was intended to remain in place pending whatever usual formalities would be required on UBS's part to effect the agreed transfer of the security for the debt to Standard Chartered. The fact that the value of the security for the debt plummeted in the intervening period, from the instant UBS received the $34.2 million to the time it was prevented (presumably by third parties acting pursuant to one or more Court orders) from transferring the security for the debt to Standard Chartered (as the new owner of the debt), does not absolve Standard Chartered from the risk of loss that it assumed on the "trade date" of the sale of debt transaction. Absent an express agreement between UBS and Standard Chartered to the effect that the former would retain the risk of loss pending the usual formalities to achieve the re-registration of the security for the debt now held by UBS as custody agent/trustee for Standard Chartered, then any loss in value of the security in the intervening period between trade and settlement date properly rests with Standard Chartered. Please, do we really need to waste the Supreme Court's time on this matter which can be easily decided by reference to the documentation supporting the transaction and/or generally well known conventions that exist between financial institutions for such common inter-bank activity?

Just thinking about all of the elderly people and young children with asthmatic conditions or other breathing difficulties who are being suffocated by the smouldering public dump...many of them probably wish they could be eaten by a crocodile to put them out of their misery.

White men would not inflict on black men the kind of abuse now being inflicted by black men on black men. Lord help us!

True to form, this darling little poodle is once again an annoying distraction nipping at the heels of anyone and anything in an effort to get attention. Let's send him on his way with his tail between his legs: ruff! ruff, ruff!! There, he's gone.

These MPs (whether FNM or PLP) just can't bring themselves to focus on the stiff measures that need to be immediately taken to start collecting the many millions in real property taxes that they alone as sitting MPs owe in total to the Public Treasury.

I wonder what this stumpy little guy's highly educated children and the friends of his children must think of him. One can only begin to imagine the abuses this fella has already inflicted on so many and is prepared to go on inflicting on anyone given his failed moral compass that allows him to publicly declare that he stands behind the PM's warped sense of right and wrong. Just another clucking idiot!

Every single woman in the country should be up in arms that the PM and all other MPs (whether PLP or FNM) have not taken quick forceful steps to have Miller removed from every appointed position he holds (with the blessing of the PM) with the matter then being referred to the police for investigation.

Rolle needs to give himself a real hard look in his bathroom mirror tomorrow morning and then forcefully stare down the Minister of Finance (who happens to also be the PM) when he next sees him. Perry Christie and his governments (like Hubert Ingraham and his governments) have, since the fall of Poodling, been instrumental in squandering the financial resources of our country through their (1) failed economic policies, (2) insatiable appetite to borrow to grow the public/civil service (in another words, buy votes), (3) corrupt deals with their political operatives and business cronies, (4) general ineptitude and total lack of any kind of common sense, (5) complete and utter disregard for the well being of those who have entrusted them with public office. why on earth would any of us wish to throw more of our hard earned money at either a christie or ingraham led government through more taxes? this would be the height of lunacy as the additional tax/vat money would quickly be frittered away by all of these bafoons and their crony friends lining their own pockets with no reduction whatsoever (but rather a continuing increase) in our national debt. the fnm and plp governments alike need to be financially starved now or we will be doomed for sure down the road! Any foreign interests that choose to lend money to our corrupt governments do so at their own risk and will simply have to take it on the chin when the time comes. The abysmal track records of our FNM and PLP governments since Poodling fall is there for all to see......lenders beware!

We already know one thing for certain: Whatever happens with BEC will not be good for the Bahamian people if this stumpy guy Davis has anything at all to do with it!

What a daft proposal by this guy Winder! PGC as Minister of Finance should simply first go after the millions owed by sitting and past FNM and PLP parliamentarians, many of whom should not collect any pension paid out of Public Treasury until such time that their real property tax arrears (including penalties and interest) has been fully paid.