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Antigua Sun

Antigua Sun: "LIAT – The Star of the Caribbean, the new entity coming out of the merger of Caribbean Star Airlines and LIAT (1974) Ltd., will begin its journey clear of all debts and with some (US)$8 million cash in the bank with which to operate.
As part of the agreement, Caribbean Star owner Sir Allen Stanford, has agreed to lend the LIAT shareholder governments (US)$55 million which will go towards liquidating LIAT’s financial liabilities as well as provide working capital. The loan will be repaid to the Stanford Financial Group (SFG) from the proceeds of an Initial Public Offering (IPO) to be executed by an agency of SFG within 24 months of the finalisation of the merger."

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