Tag Archives: CLICO

CL Financial Bailout – Fear of the Facts

“…Whilst in the last five-year administration, the management of Clico, CLF and the associated companies were shrouded in secrecy by the UNC administration, this PNM Government has no intention of operating in that manner. This Government will operate in an open, transparent and accountable manner as it has been doing…“ (The emphases are mine) —Extract […]

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Is the Integrity Commission Being Blind Towards CL FINANCIAL?

by AfraRaymond Afra Raymond #14 Highsquare Condominiums, 1a Dere Street, Port-of-Spain 868 625 8168 afraraymond@gmail.com 5 May 2015 The Registrar, Integrity Commission of Trinidad & Tobago, Level 14, Tower D, International Waterfront Centre, 1A Wrightson Road, Port of Spain Dear Sir, FORMAL COMPLAINT Non-compliance of Directors of CL Financial Ltd and its subsidiaries with the […]

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Open Letter to Central Bank Governor on CL Financial Bailout

We, the undersigned, have become very concerned about the direction of the “rescue” of CLICO et al after over eight years under the control of the Central Bank and the government. Our principal concern is at the apparent regulatory forbearance being exhibited by the Central Bank in this matter. Our further concerns relate to the […]

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The Code of Silence Protects the CL Financial Deal

colm-duprey1

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CLICO Investors Passing from this World, Liquidators Earning Millions in Fees

The following extracted from the Barbados Investors & Policyholders Alliance (BIPA) Facebook Page. Hopefully this will reach the eyes of those who are dragging their feet and will put enough fire under them to speed things up. If Barbados’ 50th Anniversary arrives on 30th November and policyholders have not seen the start of their money […]

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CL Financial Bailout – Duprey’s Story: SIFI vs PIFI

On Sunday 22nd May 2016, the front-page story in this newspaper was headlined ‘We will pay it back‘. That article featured very interesting quotes from former CL Financial Executive Chairman, Lawrence Duprey as well as the Minister of Finance & the Economy, Colm Imbert, on the prospects for repayment of the huge sums of Public […]

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CL Financial Bailout – Finding the Facts

On 10 August 2015, the then Minister of Finance and the Economy appealed the High Court’s 22 July 2015 judgment which ordered the release of the details on the CL Financial bailout. My protest at this action […]

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WANTED: Bajan Politicians and Public Officials

President Otto Pérez Molina of Guatemala resigned Thursday and will face charges in the customs scandal that has destroyed his government and mobilized ordinary citizens to protest against the sleaze. – The FCPA Blog […]

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Hardtalk About the CL Financial (CLICO) Debacle with Afra Raymond and Peter Pernell

Originally posted on AfraRaymond.net:
Afra Raymond and Peter Permell are interviewed on the ‘Election Hardtalk‘ show on Power 102FMFM by Tony Frasier about the continuing impact of the CL Financial bailout on the economy and the request to get back the company by Lawrence Duprey. 16 July 2015. Audio courtesy Power 102FM Programme Date:…

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CL Financial Bailout – Impunity Insanity?

Originally posted on AfraRaymond.net:
© 2015 Dion Jennings. Used with permission. The headline ‘Duprey wants back CLICO‘ in the Sunday Express of June 28th 2015, did not surprise me at all. That is exactly the threat against which I have been warning throughout my campaign against this appalling and unprecedented bailout. To allow Lawrence…

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CL Financial Bailout – False Firing?

Originally posted on AfraRaymond.net:
Prime Minister Kamla Persad-Bissessar greets former Clico chairman Gerard Yetming, second left, and former Senate president Timothy Hamel-Smith, second right, after they showed up at a UNC “foot soldiers” mobilisation meeting in Debe on Tuesday. Also in photo are Oropouche East MP Dr Roodal Moonilal and UNC campaign manager Rodney Charles,…

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CLICO Players Living High on the Hog

Submitted by Fidel The criminal justice system of the United States saw to it that Bernie Madoff, the Ponzi Schemer was essentially put in jail for the rest of his life. The criminal justice system of the United States saw to it that Sir Allan Stanford and the Financial Services Regulator in Antigua were put […]

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Former Chairman of CLICO Barbados Leroy Parris Suing Cash Strapped Government for Damages

Since his assets were frozen by the court, the former CLICO boss has lamented that he had been experiencing hardship – Leroy Parris (BT) The mouth of Mr. Hal Gollop, lead lawyer for Leroy Parris,  has been running like a sick nigga botsy of late. His protestations about client Leroy Parris are easily accessed on […]

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Integrity Reflections

Originally posted on AfraRaymond.net:
This column sets out my reasons for seriously questioning the motivation and priorities of the Integrity Commission. Despite my doubts as to the way in which successive Commissions have operated the Integrity in Public Life Act (IPLA), I have continued to offer suggestions as to how their work could be…

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Open Letter to Former Permanent Secretary William Layne: ‘CLICO Was a Time Bomb Waiting to Explode and Explode it Did’

The CL Financial/CLICO saga continues to occupy the news space in Barbados and regionally. Many have predicted it will take years to unravel if not resolve. And given the sloth of the Barbados Court system and the interlocking interests of politicians and prominent others there is good reason for those with material interest in the matter to batten down for the long haul.

One individual who has had a prominent role to play and a lot to say about the CLICO/Parris matter is William Layne. He is a retired permanent secretary in the ministry of finance appointed to Chair the CLICO Oversight Committee established by the late prime minister David Thompson. Another little discussed role Layne held was Supervisor of Insurance. Layne in a hard hitting CLICO exposition titled RECENT FINANCIAL FAILURES IN THE CARIBBEAN – WHAT WERE THE CAUSES AND WHAT LESSONS CAN BE LEARNT? delivered a few interesting observations on what lessons we can learn about the demise of CLICO in Barbados.

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Leroy, Leroy,Leroy K*** …

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AUDIO: 95 Mandate interview on i95.5FM – 6 Feb 2015

Originally posted on AfraRaymond.net:
Afra Raymond is interviewed on the ‘95 Mandate‘ show on i95.5FM with Ardene Sirjoo and Mariano Browne about the continuing impact of the CL Financial bailout on the economy and the pending Colman Commission report. 6 February 2015. Audio courtesy i95.5FM Programme Date: Sunday, 6 February 2015 Programme Length: 1:06:41

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Leroy Parris and Eight Million Dollars

If Barbadians were to dispassionately try to solve many of the ills affecting our little island, a priority item would be a flawed governance system. The revelation that head of the Fair Trading Commission (FSC) is the nephew of deceased late Prime Minister David Thompson should make those calling for greater transparency in government raise the level of advocacy.

In 2013 Leroy Parris of Professional Services Inc was ordered by CIBC FirstCaribbean International Bank to remove eight million dollars from that bank – CIBC First Caribbean International Bank Instructs Leroy Parris to Take a Hike. The reason has not been made public although John Public would have to assume CIBC FirstCaribbean International Bank took issue with the source of the funds. Of interest is that the funds were reported to have been transferred to a credit union. Obviously, if true, the credit union had no similar concerns.

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