Civil lawsuits are likely to come after the hearing of evidence in the Commission of Enquiry into the collapse of CL Financial and the Hindu Credit Union concludes.

That’s according to Deputy Chairman of the Clico Policyholder Group Peter Permel.

Mr. Permel is appalled by the revelations made during last week’s commission of enquiry.

In an interview with Newspower Authority this afternoon, Mr. Permel said while they knew things were bad the magnitude of the situation is troubling.

 Mr. Permel felt the regulators should be held accountable for the level of mismanagement.