Barbados-based CLICO has found itself on the losing end of a lawsuit in neighbouring St Lucia.
Even before it winds up operations here and looks for a resolution elsewhere in the Eastern Caribbean, CLICO International Life Insurance Limited has lost a near half million lawsuit brought by a former employee.
And the Eastern Caribbean Supreme Court has ordered First Caribbean International Bank (Barbados) Limited, as the garnishee of account(s) of the failed insurer, to pay St Lucian insurance salesman Deldridge Flavius about $411 000 plus other costs.
The Sunday Sun learnt that Justice Rosalyn E. Wilkinson issued the judgement against CLICO late last month. (SC)
Please read the full story in today’s Sunday Sun, or in the eNATION edition.