GLIMMERS OF LIGHT are being seen in the long, dark, winding tunnel that has characterised the CLICO debacle in Barbados.
The Barbados Investors and Policyholders Alliance Inc (BIPA) is reporting that since the Supreme Court approved the CLICO restructuring plan submitted by the Ministry of Finance that was endorsed by judicial manager, Deloitte Consulting, and the policyholders group last December 2, the complex administrative process of executing the plan has begun.
BIPA president June Fowler is hoping that within the coming weeks, it would be able to say when pensioners and other policyholders should start receiving their monthly payments again.
“BIPA is particularly encouraged by the tremendous work that has been done,” said Fowler. (SP)
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