MINISTER?OF?FINANCE Chris Sinckler says the promised meeting with the court-appointed judicial managers for CLICO International Life Insurance took place and a “tidy solution” was being worked out.
In the meantime he advised policyholders to continue to pay their premiums and service their policies.
“No premium, no company,” Sinckler warned when questioned yesterday about the meeting with the judicial managers which he had announced would have been held when he presented this year’s Budgetary Proposals and Financial Statement to the House of Assembly.
Sinckler said while he could not disclose the outcome of those talks, “we are working to an orderly resolution of this issue”. He added that there was a “very good team”, including representatives of the Central Bank of Barbados and the Ministry of Finance, as well as others from outside the country; and their submissions had already been made to the courts.
“We continue to work assiduously without a lot of noise and fanfare to bring a structured solution to this matter,” Sinckler told members of the media, reminding them it was a matter now under the guidance of the court, therefore imposing limitations on what could be said. (GC)
