Parris a pal
Prime Minister Freundel Stuart. (FP)
By Ricky Jordan | Thu, March 17, 2011 - 12:12 AM
Prime Minister Freundel Stuart says he’s prepared to let the law take its course with regard to the $10 million lawsuit filed by former chairman Leroy Parris against CLICO.
But, in making his contribution to the 2011-2012 Estimates debate in the House of Assembly yesterday, Stuart also made it clear that he was not about to shun Parris.
In fact, he described Parris as a long-time friend and a one-time client who was definitely not a “leper”.
“I don’t disown him. He’s not a leper. I don’t agree with everything he does. I have never agreed with everything he’s done, but like all other Barbadians he has worked his way up and he has had his ups and downs. But he is not a leper,” the Prime Minister said.
Stuart also noted that if “that estimable gentleman has sued the company for which he has worked, that is a matter the judges will decide”.
Stuart said he himself had a vested interest in CLICO’s recovery and success, and that it would not help to try to exploit a photograph of Minister of Finance Chris Sinckler talking to Parris at the just run Gold Cup horse racing event.
Earlier this month, lawyers for Parris filed writs in the High Court claiming more than $10 million from CLICO Holdings (Barbados) and CLICO International Life Insurance.
According to one writ, to date Parris received about $3.5 million from the company starting with a payment of just over $3.5 million in January 2009 and four payments of $30 000 each last year, the last being paid November 24.
The Prime Minister told MPs that if CLICO had been the only conglomerate to experience collapse in the last two years, he would join in the criticism but he had also seen prestigious companies in North America and Europe fall.
He said the Government was committed “to ensuring that at the level of principal . . . ‘pal’ not ‘ple’ . . . the commitment of the Government is to ensure that people get their principal investments in CLICO. I do not resile from that”.
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I have heard some crazy things said by politicians over the years, but this jumps right to the top of the list. Hanging on to that “estimable gentleman” as a friend is tantamount to putting an anvil on your ankle and jumping into the Wharf hoping to float.
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Comment LinkI have really now lost all respect for this Government, simply because I am not stupid or dumb. The biggest insult is to compare Barbados with North America and Europe. In those places there is regulation in everything and it is effective. It has nothing to do with friendship, business is business and certainly, business and friendship are not a mix or a fit.
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Comment LinkIt is said that constitutionally, there are two places where one can say anything and get away with it - in Parliament and in the precincts of court. I want to another and that is in the Polling Centres. Ballot papers will reveal true thoughts like never before. You know how Bajans get blue vex when you trouble their money, man or woman.
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Comment LinkIt’s interesting when the prime Minster commits to allowing the law to take its course with respect to the Clico 10 million dollar Parris lawsuit. How come all these months have passed and the law has not been allowed to take its course by the appointment of a judicial manager for Clico. (Yet British American has one.) Stopping a company from raising revenue by selling yet forcing it to continue to service claims, pay wages or other non- revenue generating functions is merely “death by a thousand cuts”.
Also, some of the “prestigious companies in North America and Europe, which have failed” have become the subject of investigations and some of the principals are in jail, or headed there. Please stop talking and act.
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Comment LinkThis is such a sensitive issue, that I really cannot understand why a Prime Minister would make such a (unfortunate) comment at this time. It seems like a total lack of respect for an already disadvantaged people who voted him in to represent them, in favour of one arrogant spoilt brat (nicely put). In every rumour there is a little truth, so I must ask, does Mr Parris really have the DLP in a strangle hold?
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Comment LinkI can readily agreed with many of the comments listed here. Unfortunately, the people who really need this information will never read these pages. What is truly sad is that most Bajans will continue to swallow what is dish out them by the “people’s” party
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