The Barbados Investors and Policyholders Alliance (BIPA) has lost its first court battle to get a say in the judicial management of British American Insurance Company (BAICO).
But the group may still have some fight left in it.
Yesterday, following a High Court judge’s rejection of BIPA’s request to be joined to the judicial management of BAICO, the alliance said it was keeping its options open, although it stopped short of saying an appeal would be the next step.
“BIPA will continue to explore all the legal options available to it,” the attorney at law for the group, Tariq Khan, told the DAILY NATION following the ruling by acting Justice Pamela Beckles.
BIPA chairperson June Fowler admitted she was disappointed by the ruling.
However, she said the group would not be discouraged from going after what is due to the approximately 25 000 policyholders in failed insurance company CLICO and the 10 000 BAICO investors.
Read the full story in today’s DAILY NATION.
