Gov’t Strengthening Insolvency System

Minister of State in the Ministry of Industry, Investment and Commerce, Hon. Delano Seiveright, says measures are being advanced to strengthen Jamaica’s insolvency framework.

Speaking with JIS News, he said that the focus is in keeping with the Government’s broader agenda to improve the ease of doing business, enhance business protection and recovery mechanisms, and ensure that Jamaica’s regulatory institutions remain responsive to the demands of a modern, evolving economy.

Mr. Seiveright recently met with senior officials of the Office of the Government Trustee (OGT) and the Office of the Supervisor of Insolvency (OSI) to reinforce the Government’s push and get an update on their performance.

During discussions with Government Trustee, Elece Campbell, the State Minister reviewed the OGT’s expanding responsibilities in administering bankrupt estates, tracing and securing assets, distributing funds to creditors, and providing financial counselling aimed at debtor rehabilitation and reintegration into productive economic activity.

He informed JIS News that the OGT reported measurable improvements in operational performance, including the attainment of ISO 9001:2015 certification.

“The agency also highlighted the resolution of several long-outstanding estates, court-approved discharges and revocation orders, and the distribution of approximately $21.9 million in dividends to 74 creditors across 24 estates. These outcomes reflect strengthened internal processes, tighter case management systems, and improved turnaround times,” he pointed out.

During discussions with Supervisor of Insolvency, Fayola Evans Roberts, and Deputy Supervisor, Chevant Hamilton, the entity’s core regulatory functions were outlined to the State Minister, including the licensing and supervising of trustees, overseeing insolvent estates, maintaining alignment with international best practices, and serving as the central repository for insolvency records and reporting in Jamaica.

Mr. Seiveright informed that the OSI reported “steady progress” during the last financial year in strengthening oversight and compliance.

Key achievements, he said, include Cabinet-level policy engagement, legislative reviews, expanded trustee compliance activity, resolution of complaints without the need for formal hearings, and the processing of more than 1,700 insolvency verification requests.

The OSI further reported administration of collections amounting to millions of dollars, issuance of trustee licences and certificates, and advancement through the first stage of ISO 9001:2015 auditing.

Mr. Seiveright underscored the importance of modern, accessible regulatory institutions in an economy increasingly shaped by the growth of micro, small and medium-sized enterprises, digital commerce, and cross-border business activity.

“Insolvency must be better understood as a structured framework for rehabilitation and recovery, not merely a punitive process,” he said, adding that “clear communication around debtor options and creditor protections is essential to maintaining trust and confidence in our commercial system.”

As such, the State Minister affirmed that “the Ministry will continue to support improvements in operational systems, stakeholder engagement, and public education.”

The OGT and OSI fall under the Ministry’s portfolio while operating independently in the execution of their mandates.