The Finance Ministry yesterday indicated that CLICO Assenting policy holders are not entitled to make claims for interest on outstanding monies from 2011.
CLICO policyholders’ group president Peter Permell has indicated that in order to recover monies owed to the government and policy holders from the bailout of CLICO, CL Finance assets should be sold. He is questioning why the ministry of finance is not utilizing this option.
He saying that this stance by the current government is contrary to agreement made in a Memorandum of Understanding between the government and CLICO following the intervention of then Prime Minister Patrick Manning.
During his appearance on an early morning show today Permell praised the efforts of Mr. Manning in the 2009 bailout but lamented the fact that this issue is still ongoing.
He is calling on the Minister of Finance to come clean on all matters surrounding this CLICO debacle to ensure that policyholders receive their due.