Tag Archives: CLICO

CL Financial Bailout – The Caribbean Connection Part Two

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 […]

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CL Financial Bailout – the Caribbean Connection

My previous article examined the November 2007 appointment of Karen Nunez-Tesheira as our Minister of Finance by then PM, the late Patrick Manning. For whatever reason, the consternation over the appointment of Christian Mouttet to investigate the #ferrygate imbroglio is reminding me of the confusion many people felt when PM Manning made that appointment. An […]

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CL Financial Bailout – Charting the Ruins

Posted by Afra Raymond The voices of our leading Artists urge us to search for meaning, if we are serious about building a civilisation out of the lies and ruin we inhabit. That kind of serious building requires a solid foundation which must contain sober reflection and acceptance of responsibility by both the people and […]

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CL Financial Bailout – The Tangled Web

by AfraRaymond “…The official also pointed out that no interest was ever charged on the amount of money that was loaned to the CLF group…” —Quote from an anonymous ‘Government official’ in this newspaper on 21 July 2017. Well yes. A bold-faced snatch-and-grab is now being attempted and our total vigilance is now required. According […]

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CL Financial Bailout – Nitty Gritty

CL Financial bailout – Nitty Gritty by AfraRaymond The CL Financial bailout fiasco is headed towards an epic legal mangle as Lawrence Duprey and his cohort aim to regain control of the Caribbean’s largest-ever commercial/financial group. In swift response, the Minister of Finance is making legal moves to put CLF into liquidation. At the root of […]

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CL Financial Bailout – False Equivalence?

In today’s world of ‘Alternative Facts’ we have to be alert to the special dangers posed by ‘False Equivalence’. False Equivalence arises when two arguments are presented as being of equal relevance, but in fact one is solidly fact-based and the other is mere speculation or invention. Those dangers are especially present in matters of […]

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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

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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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