Antigua and Barbuda’s Prime Minister Gaston Browne says he’s dissatisfied with the response from his Trinidad and Tobago counterpart relating to the non-payment of tens of millions of US {dollars} linked to the collapse of Trinidad-based insurance coverage firms CLICO and British American Insurance coverage Firm (BAICO) in 2009.
Browne, who’s chairman of the Jap Caribbean Forex Union (ECCU) sub-committee on insurance coverage, had stated final month {that a} resolution had been made to take the Keith Rowley administration earlier than the Port of Spain-based Caribbean Courtroom of Justice (CCJ).
The ECCU teams the islands of Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St.t Kitts-Nevis, St. Lucia, and St. Vincent and the Grenadines and Prime Minister Browne stated he had written to Prime Minister Rowley after an ECCU assembly had agreed unanimously to take the Trinidad and Tobago authorities to courtroom after three makes an attempt to get them to pay the excellent funds.
– Commercial –
Talking on his radio program during the last weekend, Browne instructed listeners “His (Rowley’s)response is one which I believe he has co-mingled a lot of points, even some gratuitous funds that have been made by the late (prime minister) Patrick Manning he has tried to incorporate in a settlement.
“So, I’m about to answer him to let him know that he’s mistaken and that the problems he has raised in his letter they definitely don’t have any bearing to the case that we’re pursuing,” Browne stated, with out disclosing the complete content material of Rowley’s letter.
The ECCU stated Trinidad and Tobago had made a dedication to pay US$100 million to the member international locations however solely US$40 million was disbursed following the collapse of C. L. Monetary, the homeowners of CLICO and British American Insurance coverage Firm (BAICO).
In October final 12 months, a bunch of British American and CLICO policyholders within the Jap Caribbean filed a lawsuit on the CCJ in opposition to the Trinidad and Tobago authorities and Prime Minister Browne stated the ECCU resolution to comply with go well with had been within the works for a number of years.
“Let me make it abundantly clear too that …the coverage holders will come collectively collectively, and so they have a collective go well with in opposition to the federal government of Trinidad and Tobago. That’s separate from what we’re pursuing right here.
“The case I’m pursuing is a settlement that was agreed to even earlier than I grew to become prime minister of a US$100 million. The federal government of Trinidad and Tobago paid US$40 million for it, and US$60 million continues to be excellent.
Gaston Browne stated it’s on that foundation the ECCU believes it has a case if Port of Spain refuses to settle.
CMC/