Financial sector welcomes new insolvency regulations in Saint Lucia

Published on May 26, 2026

Saint Lucia’s financial sector is preparing for the implementation of the country’s new insolvency framework following a key consultation on recently approved insolvency regulations.

Bankers, credit unions, and other financial stakeholders say the legislation could provide new opportunities for debt rehabilitation, while helping to strengthen confidence and stability within the financial system.

General Manager of the St. Lucia Cooperative Credit Union League, Shayne Felicien, stated that while there is naturally some apprehension surrounding any new legislation, the credit union movement sees the Insolvency Act as an important tool for assisting members facing financial difficulties.

President of the Saint Lucia Bankers Association and Country Manager for Republic Bank EC Limited, Ron Leon, described the consultation as productive and beneficial for both consumers and the financial institutions.

The Supervisor of Bankruptcy and Insolvency, Nathalie Dusauzay, said the recently approved regulations now allow the Insolvency Act to be fully administered and implemented.

Director of the NCPC, Lisa Florent-Montoute, said this consultation represents another significant milestone in the implementation of the insolvency framework.

Legal Consultant, Bota McNamara, was the lead presenter at the consultation, which was held at the Bank of Saint Lucia Conference Room in Castries.