Bahamas: Condo Complex Crippled By Rbc Account Closure

/ Owner - December 8, 2017

AN Abaco condominium association yesterday accused Royal Bank of Canada (RBC) of leaving it financially crippled due to the “unexplained” closure of its account.   Dan Proctor, chairman of Treasure Cay’s Atlantis Condominiums Complex, told Tribune Business that loss of its “key” account would create “ripple effects” for the local economy by rendering it unable to pay Bahamian vendors, maintenance men and their property manager.  Disclosing that the 40-unit Association was also unable to pay due taxes and insurance premiums, Mr Proctor said he only found out two days ago that an account normally containing “thousands of dollars” had been reduced to a zero balance with no prior notification.    Read the article……………………..

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