Minister of Finance Chris Sinckler has made it clear that he is not about to become entangled in the legal troubles surrounding the CLICO International Life (CIL).
Over the past few weeks there have been mounting calls for the CLICO audit report to be made public.
There have also been calls for Mara Thompson, the widow and executor of late Prime Minister David Thompson’s will, to give an explanation of her relationship with the collapsed company.
Mara Thompson
However, in responding to questions from the media following a short ceremony to officially open the offices of the Financial Services Commission (FSC) at the Harbour Industrial Estate today, Sinckler advised critics to let the court do its job.
In fact, he described it as “a little . . . inappropriate” for him or anyone to speak on the matter “or issue statements” while it was being dealt with by the judicial system.
Minister of Finance Chris Sinckler
“Those matters are properly before the court of law of Barbados. They are, as the lawyers would say, sub judice, a lot of them being dealt with, not even in open court, they are being dealt with by the judge in chambers. And I think it . . . will be inappropriate for me and certainly for other people who don’t seem to have any respect or recognition of this reality, to issue statements or speak to matters pertaining to that, while they are within the proper dispense of the court.”
Sinckler, however, gave the assurance that the Freundel Stuart administration remained committed to ensuring that policyholders and investors of the company were “protected”.
“What I can say is that the Government of Barbados remains committed to ensuring that policyholders and investors of CLICO are made as [aware] as [much] as is humanly possible in the circumstances of what we are dealing with. There are challenges, of course, with the exercise. It is not something that is hidden from public knowledge. There is a process in place for judicial management and I think that process should be allowed to take its course in relation to what is happening,”
said Sinckler.
“And we give the assurance, certainly I give it on behalf of the Government and I know the prime minister gives that assurance as well, that we continue to do what we have been advised and are being advised are the appropriate things to do to ensure that we protect those policyholders. Outside of that the legal issues and so forth, are not for me to comment on,” he said.