Barbara Gayle, Staff Reporter

The legal battle betwee investment scheme, Olint Corporation Ltd., and the National Commercial Bank (NCB), took a new turn yesterday when Olint applied for former chairman of the Financial Services Commission (FSC), Michael Hylton, to be barred from representing the bank.

The bank is opposing the application and Justice Roy Jones has set the matter for hearing on February 15.

Olint is contending that Hylton should not represent the bank because of the positions he held as chairman of the FSC and Solicitor General.

Hylton resigned as Solicitor General in October last year and as chairman of the FSC earlier this month. Olint and NCB are now engaged in a legal battle in the Supreme Court as Olint is seeking to bar the bank from closing its three accounts.

The FSC had issued a cease-and-desist order against Olint on March 26, 2006, because it was not registered with the FSC.

The Supreme Court upheld the cease-and-desist order in December last year, and NCB subsequently notified Olint that it was going to close its accounts.

Olint had obtained an injunction barring the bank from closing its accounts, and the injunction was extended yesterday until February 15.

Justice Roy Jones, in extending the injunction, gave the parties leave to file additional affidavits in respect to the application to remove Hylton from the case.On the other hand, the bank is seeking to have the law firm Nunes Scholefield DeLeon and Company, which is representing Olint, removed from the case.

The bank is contending that the law firm had represented the bank on previous occasions and that allowed the law firm to have confidential information on the bank.

A date is to be set for the hearing of that application.