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Payne: Check T&T on CLICO

rhondathompson, [email protected]

Payne: Check T&T on CLICO

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Opposition politician George Payne wants Government to take a close look at what has happened in Trinidad as it seeks to deal with the CLICO debacle.
He made this point in the House of Assembly today as he charged that while Trinidad had been very active in addressing the demise of the financial giant, Barbados had done “practically nothing”.
To the Freundel Stuart administration, he suggested: “We should look at what the Trinidad Government did when this situation first broke . . . .
“In Trinidad there have been two examinations, one of which was carried out by a former minister of finance and another one was carried out by a firm of chartered accountants.
“There is currently a commission of inquiry headed by a British Queen’s Counsel looking into the dealings of CLICO in Trinidad.”
The finance minister has also been meeting with the CLICO policyholders’ group in Trinidad to agree on a formula for providing relief to the near 250 000 people who have invested in CLICO and British American, the Payne said.
He charged that the CLICO oversight committee Government had set up had few or no teeth.