Ikins Clarke

Loyal Bank, of Saint Vincent and the Grenadines, is suing Mastercard for allegedly causing its liquidation by terminating its license and keeping its $1.5 million deposit as a "termination fee" after the offshore bank was charged with money laundering in the U.S.

Complaint alleging breach of contract in Loyal Bank Limited, of Saint Vincent and the Grenadines, and its Joint Liquidators, Ikins Clarke, of Barbados, and Rikhi Rampersad, of Trinidad & Tobago v. Mastercard International Inc. at the U. S. District Court for the Southern District of New York.

Liquidation Notice by The Financial Services Authority of St. Vincent and the Grenadines regarding Loyal Bank Limited.