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Permel welcomes government pay out plan to CLICO policy holders

Government’s new plan to pay outstanding monies to policy holders of financially strapped CLICO Financial, has received the nod of Deputy Chairman of the Clico Policyholder Group, Peter Permel…

Speaking about the plan which has been laid out in two Bills in the parliament last week, Mr. Permel said he was happy Finance Minister, Winston Dookeran, came around.

One of those bills seeks to buy out policy holder’s right to sue the State in exchange for payments, while the other outlines how the Government 20-year zero percent-rated bonds, will finance payments.

 The Minister had also announced that depositors would get RBL shares…

In an interview this morning Mr. Permel said the solution that the government came up with can be worked with….

Deputy Chairman of the Clico Policyholder Group Peter Permel…

Hearings resumed this morning into the Commission of Enquiry into the collapse of CL Financial and the Hindu Credit Union.

Queen’s Counsel Sir Anthony Colman is the lone commissioner of the enquiry which commenced on March 11.

The Commission sits at the Winsure Building in Port of Spain…