Atlantic Bank No Longer Doing Business with Stake Bank Enterprise

Earlier today, the Atlantic Bank Limited issued a press release stating that on May first, the facilities held with the embattled Stake Bank Enterprise Limited were sold to Operaciones Portuarias, a corporation that is registered under Honduran laws and is an entity that is affiliated with brothers Guillermo and David Bueso.  The statement continues, quote, the bank has therefore removed from its books the debt owed by S.B.E.L.  As of that date, the bank no longer carried on banking business with S.B.E.L.  As we’ve reported, Stake Bank Enterprise has gone into receivership and several lawsuits have been filed between the bank and the development company owned by businessman Michael Feinstein.  It is unclear what becomes of those claims, as well as the future of the multimillion dollar Stake Bank project.