Sole Commissioner For CLICO Probe


CaribWorldNews, PORT OF SPAIN, Trinidad, Friday October 15, 2010: A sole commissioner has been appointed to investigate circumstances leading to the financial collapse of the Trinidad and Tobago-based CLICO and its subsidiaries.

Sir Gavin Lightman, a retired British High Court judge was named by T&T Attorney General Anand Ramlogan to head the probe that will also look into the collapse of the Hindu Credit Union.

Lightman will investigate the causes, reasons and circumstances leading to the deterioration of the financial conditions and health of CL Financial, CLICO, CLICO Investment Bank, British American Insurance Company (BAICO) and HCU and determine whether there was civil or criminal liability.

Fellow British Queen`s Counsel, Peter Carter, will perform the role of counsel to the Commission, with local attorneys Kelvin Ramkissoon and Celeste Jules working alongside him.

The Commission is expected to complete its work within four to six months.


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