Originally posted on Barbados Underground:
The CLICO Mess has brought into focus a bigger issue, the lack of a reliable governance framework. BU maintains we have witnessed a catastrophic regulatory failure which continues to challenge all jurisdictions CLICO operated. This view is contrary to William Layne’s who continues to dumb down the role of the…
Originally posted on Barbados Underground:
BU seeks clarification, in the public’s interest, on a 5 millions dollar deposit listed on an asset disclosure to the Barbados Court in an Affidavit filed by LEROY PARRIS to overturn an order freezing his assets and those of Branlee Consulting Services Inc. BU is unaware the Central Bank of Barbados is authorized to accept […]
In May 2012 BU posted on the matter Everton Cumberbatch Versus Leroy Parris, Larry Tatem and Breakers Investment Inc Case number”2008/770. Arising from the law suit one gleans that Leroy Parris has access to monies which he is the beneficial owner lodged in offshore accounts totalling in the million of dollars. In todays Sunday Sun […]
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.
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.
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, […]
In the business section of BBC of 19 June 2013 there was a headline Deloitte gets one-year New York ban. In the world of global finance it represented a routine report given the vagaries of how business is done today. Then it dawned on the author to question – why is it regulators in Barbados […]
In the interest of sharing all information received about any matters which BU has reported on, we have been advised and updated on the issue of the Parris v BLP and Nation and Barbados Advocate as follows: Mr Hal Gollop QC filed an action for defamation against the Nation which pre-dates the Parris action. The […]
Leroy Parris v BLP, Nation and Barbados Advocate: Chief Justice Gibson Produces a What the Hell Moment
Barbadians were treated recently to the news that the enigmatic Chairman of CLICO Holdings Barbados Leroy Parris who was deposed when the bottom fell out of the CLICO parent company in Trinidad has filed a legal action against the Nation, Barbados Advocate and Barbados Labour Party (BLP). Parris would not have made the top 200,000th […]
On 27 April 2013 Barbados Underground (BU) posted the blog Who Are the Local Partners in Cost-U-Less?. Although the Prime Minister of Dominica Roosevelt Skerrit has denied the word making the rounds that he is a local shareholder, BU defends our right to ask questions of Skerrit or anyone in the interest of providing clarification. […]
We do not charge membership fees and believe we can offer low prices to Barbados shoppers, just as we have in our most recent store opening in the Cayman Islands, which was also a partnership with local business people NorthWest Company trading as Cost-U-Less July 2008 It has been almost five years from the time […]
There are some things the BU household has surrendered to by saying, we just do not understand.