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Atrius Scrapped Following Clico Collapse

by | Jul 22, 2014

Finance Minister, Larry Howai

Finance Minister, Larry Howai

The parliament is told by Finance Minister, Larry Howai, that the government is no longer interested in following through on its plan to set up a company called Atrius, which would have utilized assets from failed insurance giant CLICO.

Minister Howai was asked to give an update on the status of Atrius by Opposition Senator, Dr. Lester Henry in the Senate on Tuesday afternoon.

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Dr. Henry also asked for answers on who made the decision to discontinue the original plan, a question Minister Howai answered saying discussions were held between the Central Bank and the Finance Ministry on the critical matter with both parties agreeing that it would have led to a financial strain on the state and the economy.

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Finance Minister, Larry Howai

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