Central Bank Governor Dr Delisle Worrell has given the thumbs up to options put forward by the judicial manager for restructuring of the financially troubled CLICO International Life Insurance Limited (CIL), even as the group representing policyholders insists that what’s on the table is not good enough.
He has given Deloitte Consulting – represented by Oliver Jordan and Patrick Toppin – kudos for “the excellent work they have done on bringing the situation to the point where we have a pretty good handle on the size of the problem”.
“I do have some international experience in terms of restructurings and so on, and this is work at a level that is comparable to anything internationally. I think that what they have laid out is work of that class,” Worrell said.
He was speaking after last Thursday’s launch of the International Monetary Fund’s (IMF) Regional Economic Outlook.
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