Tag Archives: CLICO
Leroy Parris

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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Afra Raymond

Integrity Reflections

Originally posted on AfraRaymond.com:
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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Wiliam Layne

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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Mariano Browne

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

Originally posted on AfraRaymond.com:
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

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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Neval Greenidge

Whistleblower Policy Needed–Former CLICO Executives Speak Out

The failure of CLICO and other failures in the Eastern Caribbean require regional governments to implement a whistleblower policy. It is evident regional regulators are more committed to managing within national boundaries therefore pan Caribbean companies will continue to be a challenge. BU believes a whistleblower program facilitated by Caricom can act as an ancillary mechanism to  support the function of moribund regional regulators. The lack of labour mobility in the Caribbean means individuals are not motivated to risk personal financial hardship and victimization in the name of doing what is ethical and moral.

The following comments were posted in another forum by individuals purporting to be Neval Greenidge and Larry Davis, both former CLICO  executives. There is always the case to question the motives of former employees in a situation like the one unravelling with CLICO. In light of what has transpired all actors who played a part should be clinically interrogated to accurately piece together the truth behind the demise of CLICO Barbados Holdings and subsidiary companies.

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Leroy Parris

Leroy Parris and the $3.333 Million Payment

The news that the Deloitte Judicial Manager has taken action to recover $3.3. million dollars paid to Leroy Parris via Thompson & Associates has flushed out Laroy Parris and his credentialed lawyers Hal Gollop QC and Vernon Smith QC. BU will not be side-tracked by the theatre that will be orchestrated around this matter about how $3.3 millions dollars found its way into the deep pocket of former Executive Chairman of CLICO Leroy Parris. What some of us want to know is if there is consensus the invoice generated to support the $3.3. million payment is legitimate and whether taxes and relevant laws have been honoured. Does Parris and his lawyers dispute the findings of Deloitte Judicial Forensic Report on the matter?

To pursue a clinical approach to discovering truth and justice in the matter of CLICO and the $3.3. million dollar payment we highlight Walter Blackman’s intervention posted on another blog Speaker Michael Carrington and Deputy Speaker Mara Thompson Drag the Highest Court in the Land Into the Gutter.

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Barbados Parliamentarians 2013

Speaker Michael Carrington and Deputy Speaker Mara Thompson Drag the Highest Court in the Land Into the Gutter

The Speaker of the House Michael Carrington was caught with his hand in the cookie jar, the consequence? Madame Justice Jacqueline Cornelius had to issue a court order to force the payment of monies owed to a wheel chair bound septuagenarian – about two hundred thousand dollars – forced to wait 14 long years to have his case settled.

As if this was not enough of an embarrassment, the Deputy Speaker Mara Thompson and widow of the late Prime Minister David Thompson has been named in a court action by the Judicial Manager for Clico which alleges that her late husband generated a false invoice to support a payment of 3.3 millions dollars to Leroy Parris then Executive Chairman of Clico Barbados Holdings Limited.

Barbados has always been categorized as an orderly society, one that manages its affairs with dignity. What is happening is unacceptable and continues to rain shame on our little country.

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Prime Minister Fruendel Stuart

Prime Minister Stuart… all we want for Christmas is for the giant to be aroused from his slumber

It is difficult to feel cheerful in the Yuletide season when so many things in Barbados seem to be deteriorating. It is difficult to feel confident if a minister of cabinet publicly expresses his lack of confidence in how the Cabinet is managing “process and procedure’’. He is on the inside isn’t he? It is […]

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CLICO Policyholders suing, finally!

 Photo credit: Nation

CL Financial – Bait & Switch

Originally posted on AfraRaymond.com:
“They’ve got twelve Aces up their sleeve! So who the Hell can we believe?” —Rudder, David Michael. “Back to the Same Ole Same.” The Autobiography of The Now. Lypsoland, 2001. Used with permission The CL Financial bailout seems to be entering its end-game, with repeated claims from the Minister of Finance that the…

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Walter Blackman - Actuary and Social Commentator

Open Letter to the Director of Public Prosecutions (DPP) about the CLICO (Barbados) Scandal

Dear Mr. Leacock, I am a citizen and taxpayer of Barbados. I am also a pension actuary. My fundamental responsibility, as an actuary, is to provide services skilfully and competently, to operate with integrity, and to uphold and protect the public trust. I believe your chosen profession has imposed similar responsibilities upon you. By definition, […]

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What Lies Beneath

Originally posted on AfraRaymond.com:
The public is being told that the CL Financial bailout is being resolved, while at the same time the Minister of Finance & the Economy is withholding the fundamental information which any prudent person would need to make a decision.  So, what is the secret? Apart from the details I…

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Canada Loyal Life reported to be coming to rescue CLICO

Canada Loyal Financial to CLICO’s Rescue…?

There was a report in the local press on the weekend that Canada Loyal Financial is interested in bailing out CLICO. The policyholders have been emitting noises of quiet optimism since the announcement. Some of us however are alarmed a foreigner stands to own a significant acreage of our lands.  If Canada Loyal Financial is […]

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CL Financial bailout – Paying the Devil

Originally posted on AfraRaymond.com:
Today is the 30th of January 2014: five years since the State bailout of CL Financial was announced to a shocked nation and region. It is necessary to mark this moment in time with solid facts and stern meditation. The Carnival season is upon us, so J’ouvert is near the…

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Integrity and Education On the Backs of Fallen Leaders

Noam Chomsky opines that “it is the responsibility of intellectuals to speak the truth and to expose lies”. It begs the question do we have intellectuals in Barbados? Who are they? BU adds another question to the pile – is there morality in local politics? During the last general election Prime Minister Fruendel Stuart was […]

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The Wolf is at the Door

When judged against the harsh background of adversarial politics, only two prime ministers of Barbados (who led the country for 7 years or more) can lay claim to being able to escape the clutches of the IMF for the entire period of their rule – Errol Barrow and Owen Arthur. Say whatever you will, it […]

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CIBC First Caribbean International Bank Instructs Leroy Parris to Take a Hike

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