BARBADOS INVESTORS & Policyholders Alliance (BIPA) is accusing the judicial manager of CLICO International Life Insurance Ltd (CIL) of trying to keep its forensic audit sealed from the public.
It also wants policyholders to go to the Supreme Court tomorrow morning and object to any attempt to have the audit sealed by court order.
In reaction to an application filed by the judicial manager’s legal representative in the Supreme Court Friday, BIPA said it was appalled that the court’s approval was being sought “to keep the final forensic audit sealed from the public of Barbados, giving only as its reason that ‘the report contains sensitive information about the operations of the respondent (CLICO), its subsidiaries, CLICO Holdings (Barbados) Limited and the activities of officers and agents of these entities’”.
BIPA said what was particularly noteworthy was “the hasty manner in which the submission to the court was made” as well as “the equally hasty expectation of the respondent, CLICO International Life Insurance Limited, that the order will be granted on Monday, having only been submitted one working day earlier on Friday, June 28”. (RJ)