Former Minister of Finance, Karen Nunez-Tesheira says based on what she has read on the firing of Former Chairman, Gerald Yetming and CLICO Chief Executive, Carolyn John, the basis of payment to other senior managers of CL Financial and corporate secretary Geeta Sakal, seems troubling.
Nunez-Tesheira posed a question to the Central Bank Governor, asking on what legal basis Geeta Sakal would not be paid.
Nunez-Teshiera said that none of the CLICO Directors should have be paid when the company collapsed.
The Former Finance Minister highlighted that the four former Directors, Ian Garcia, Clinton Ramberansingh, Vishnu Ramlogan and Nigel Salina were paid by Colonial Life Insurance Company when it crumbled in 2009. The directors were among ten identified to be paid $48.5 million.
All their policies would have also been paid with interest.
Former Minister of Finance, Karen Nunez-Tesheira