TRINIDAD-COURT-Government gets nod to liquidate CFL

PORT OF SPAIN, Trinidad, Jul. 26, CMC – The government has been granted permission to appoint provisional liquidators to preserve the assets of CL Financial as it seeks to recover a $15 billion debt left from the 2009 bailout of the conglomerate’s insurance subsidiaries Colonial Life Insurance Company (Clico) and British American Insurance Company (BAICO).

In the ruling handed down late Tuesday, appellate court judges Peter Rajkumar, Andre des Vignes and Charmaine Pemberton overturned a ruling by Justice Kevin Ramcharan and granted Government’s application for the appointment of two provisional liquidators.Read More..

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