Wednesday, April 24, 2024

Govt still after CLICO solution


Share post:

The Freundel Stuart administration is still seeking a settlement of the near half-billion-dollar CLICO International Life Insurance debacle, which should be announced by June.
But Minister of Finance Chris Sinckler has told the SUNDAY SUN that a CLICO resolution must be one that reflects the interests not only of the 30 000 insurance policyholders and investors but the other 240 000 Barbadians, if the state is required to fix the CLICO mess.
“June is the date which we have set ourselves,” he pointed out. “That is the date that the judicial manager has said looks feasible, based on what they have before them, and that is what we are working towards. We hope that nothing derails that process and that is where we are, at the moment.
“Our goal is to ensure that people get the best out of the circumstance as is humanly possible . . . . The judicial manager has recommended four different options.”
Read the full story in today’s SUNDAY SUN.


Please enter your comment!
Please enter your name here

Related articles

Broad Street to be paved over Heroes weekend

The Ministry of Transport and Works, through its contractor Infra Construction Inc., will mill and pave Lower Broad...

Death rates up

Barbados’ population is officially in decline as the number of people dying each year surpasses those being born. That...

CDB boss steps down with ‘immediate effect’

BRIDGETOWN – President of the Barbados-based Caribbean Development Bank (CDB), Dr Hyginus ‘Gene’ Leon, has resigned with “immediate...

St Michael man remanded on 14 charges

A 23-year-old St Michael man was remanded to Dodds Prison after appearing in court to answer 14 charges. Raheem...