CL Financial Bailout – The Caribbean Connection Part Two

Afra Raymond, Citizen Advocate

The previous article set out my criticism of the CLF bailout situation in respect of the CARICOM claims and our nation’s treaty obligation to exercise non-discrimination in its policies. In that light I am sceptical of the position now being advanced by the CLF shareholders to highlight that group as being a black-controlled conglomerate. My scepticism was rooted in the apparent refusal or failure of either the CLF shareholders or the T&T State to accept responsibility to meet CARICOM claims arising from the 2009 collapse of CLF.

I am stating here what seem to be the four indispensable elements of an equitable settlement to this CLF bailout.

  1. Settlement of non-T&T claims arising from the collapse of CLF
    I have been reliably informed that the Policyholders in one OECS Member State have sent Pre-Action Protocol letters to the Government of the Republic of Trinidad and Tobago in pursuance of their CLF claim. This course of action followed after this OECS Member Government twice wrote to the Government of the Republic of Trinidad and Tobago without having the benefit of a response. Clearly wholly unsatisfactory in terms of international diplomacy, particularly in the context of Trinidad and Tobago as a leading CARICOM State, More Developed Country (MDC) and the other CARICOM State, as a Less Developed Country (LDC) in the context of the Revised Treaty of Chaguaramas (RTC). Should matters attendant to the question of fair and equitable treatment between CARICOM Members proceed to litigation they will be expected to be heard by the CCJ which is the Court of Record for disputes arising within the ambit of the Revised Treat of Chaguaramas. If this were to proceed to the CCJ, it would be yet another layer of litigation to be resolved at public expense before the issue can be settled. Consider also that other CARICOM members have not yet litigated so there is a clear and present danger that those states whose citizens’ claims have not been satisfied could join into the entire lawsuit.

Read Full Afra Raymond Article

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3 Comments on “CL Financial Bailout – The Caribbean Connection Part Two”

  1. Bajan Free Party/CUP-PCP.Violet Beckles Plantation Deeds from 1926-2017 land tax bills and no Deeds,BLPand DLP Massive land Fruad and PONZI September 8, 2017 at 7:48 AM #

    charge them ,jail them, crimes, Action needs to be taken, PONZI Nation

    Like

  2. Well Well & Consequences Observing Blogger. September 8, 2017 at 8:16 AM #

    Can’t allow those CL Financial thieves to get their hands on that company again…unless they pay back taxpayers and the policyholders..throughout the Caribbean.

    The Manning government was criminal in enabling Duprey and his gangstas.

    “Fit and Proper guidelines must be applied to prevent the previous CLF chiefs from regaining control of the group – I am reliably informed that the Central Bank used its fit and proper powers recently within this CLF imbroglio, so it is now imperative that those powers be exercised to prevent the CLF chiefs from regaining control of the group.

    The only equitable resolution to this years-long debacle is to ensure that the CLF bailout concludes in as seamless and as transparent a way as possible. Repaying the debt owed to the Caribbean claimants is an essential part of this process.”

    Like

  3. Gabriel September 8, 2017 at 3:23 PM #

    What should be clear to one and all is that you cannot take an uncouth,illbred person like Paris and make him head honcho in a multi miilon dollar company.If you lie with dogs you are liable to have fleas.There are those professionals who made it their business to abuse that company knowing the management weaknesses of this man and its those professionals who are now hiding behind the courts and using their connections to deny simple people their rights under the laws of Barbados.Its one thing to have your name emblazoned on paper as a big up.When the shaving cream hit the fan you have to stand up and be counted too.All of you are nothing but spineless fukrs who are just as guilty as Paris and the man who was at the hellum in stately repose in stjohn churchyard.

    Like

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