The Company was incorporated in April 1966 under the laws of the Commonwealth of The Bahamas. 

The primary operating activities of VIBL are the maintenance of 334 lots located in a sub-division known as “Bahama Terrace Yacht and Country Club”, in Freeport, Grand Bahama. 

By Order dated 4 November 1987, VIBL was ordered to be wound up and a liquidator appointed, following the presentation of a petition on 25 September 1987.  The first court appointed liquidator died and was replaced by a second court appointed liquidator who was later removed from office.

By an Order dated 8 May 1997 David Patrick Hamilton and Juan M Lopez of KPMG were appointed Official Liquidators.

David Hamilton resigned as Official Liquidator on 22 October 2003, leaving Juan Lopez as the sole Official Liquidator of the Company.

On 18 August 2023, the Supreme Court of the Commonwealth of The Bahamas made an Order granting Juan M. Lopez leave to resign as the Official Liquidator, due to his retirement as Senior Partner of KPMG in The Bahamas,  and also ordered that Mr. Simon J. S. Townend and Ms. Jean K. Green-Thompson of KPMG Restructuring Ltd be appointed Joint Official Liquidators (“JOLs”).

The Joint Official Liquidators’ contact details are as follows:

P. O. Box F-42558
Grand Bahama, The Bahamas
Tel: +1 (242) 352 8336

Report dated 30 June 2023 (PDF)