Monday, May 21, 2012Brian Moore, president of the Credit Union League, said evidence given at the Colman Commission of Inquiry into Clico and HCU over the past two weeks justifies his stance that the HCU did not opera

IT’S A GOOD thing the Hindu Credit Union (HCU) did not put its money into Colonial Life Insurance Co (Clico), former HCU president Harry Harnarine gloats in his nearly 100-page witness statement submitted to the Colman Inquiry this week.

Friday, May 18, 2012Sir Anthony Colman has described the  Clico/Hindu Credit Union (HCU) inquiry as “very expensive.” The commissioner was speaking just before yesterday’s session of the HCU Commission of Enquiry was

FORMER FINANCE Minister Karen Nunez-Tesheira’s lawsuit seeking more than $20 million in compensation for the “loss and damage” suffered upon the death of her late husband, Clico insurance executive Russell Tesheira in 2004, has been thrown out by the courts.

Tuesday, May 15, 2012Such serious threats were made to Hindu Credit Union (HCU) liquidator Dave Rampersad and his family had to hire bodyguards for protection, he told the Clico/HCU Commission of Inquiry yesterday.

Tuesday, May 15, 2012 

AN ASSET swap deal between the Hindu Credit Union (HCU) and the insurance giant Clico – said to be a facility worth $200 million – yesterday puzzled the Commission of Inquiry into the collapse of both institutions.

Attorney at Law, Subhas Panday, is urging the Attorney General to be proactive and take immediate steps to pass all transcripts from the Clico/HCU enquiry to the Director of Public Prosecutions.

Ernst & Young partner Maria Daniel says there needs to be a forensic audit into numerous contracts at the Hindu Credit Union. She continued her testimony before the commission of inquiry into the collapse of Clico and the Hindu Credit Union at the Winsure building, in  Port of Spain this morning. Daniel told the commission that such contracts include those for the construction and upgrades of the company’s real estates. She further noted that during [...]

Finance Minister, Winston Dookeran says the Commission of Enquiry into Clico is not a waste of time. Mr. Dookeran was responding to questions from journalists following his address at the Caribbean Business Executive Seminar at the Hyatt Regency.

This country’s economy is turning the corner and growth is expected to resume in 2012, after an extended slowdown lasting three years. This update is contained in the latest report of the International Monetary Fund executive board. The IMF said today, that real economic activity was expected to increase by 1.7 percent in 2012 as the non-energy sector picked up momentum with the acceleration of government investment and the restructuring of Clico liabilities. It added that [...]

A High Court judge has granted leave to the United Policyholders Group for judicial review to challenge the Trinidad and Tobago government's bailout plan for the troubled Colonial Life Insurance Company (CLICO).

Saturday, April 21, 2012Government has in the last five months paid out almost $870 million to 11,361 clients of Clico and British American Insurance Company Ltd (BA) who had investments in annuities and mutual funds.

The High Court has granted leave to the United Policyholders Group and three individual policy holders to apply for Judicial Review against the Government for its handling of payment to Clico's Executive Flexible Premium Annuity investors.

Tuesday, April 17, 2012Five Clico policyholders are appealing a decision by High Court Judge Devindra Rampersad to deny them pre-emptive legal costs in their ongoing bid to recover their investments in the cash-strapped

FORMER CLICO executive chairman Leroy Parris was a no-show in court yesterday. Terrence Thornhill, president of CLICO Holdings, was there.

Monday, April 2, 2012Fixin’ T&T has written to president of the T&T Chamber Industry and Commerce Andrew Sabga to get the “chamber’s position” on issues ranging from the Clico debacle to Works and Infrastructur

Blasting the ruling Democratic Labour Party (DLP) as a Government in shambles “with a serious void of leadership”, Opposition Leader Owen Arthur has declared that the current administration has a moral obligation to “fix” the CLICO insurance problem.