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Payne wants Clico answers


Payne wants Clico answers

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That was the position Opposition Barbados Labour Party St Andrew MP George Payne said he was left with after Tuesday’s presentation of The Financial Statement and Budgetary Proposals.

He said he was not alone, pointing to the  many disadvantaged policyholders and investors of the former insurance company, Clico Barbados.

During his reply yesterday to the budgetary proposals, Payne lamented that there were too many unanswered questions.

“Whether or not the people within the new insurance company have been recruited. When the company will start? When will those transfers be done? About the legislation . . . to ensure there is no recurrence and a proper investigation of what has transpired; the shareholders in BAICO [British American Insurance Company] who have been refused part of this whole arrangement, including a lot of the churches, whether or not their funds will be written off,” he said. (SDB Media)

Please read the full story in today’s Weekend Nation, or in the eNATION edition.