Assets of CLICO (Guyana) that escaped the ravages of the collapse of its sister company in the Bahamas are now under the supervision of the High Court, which has appointed Commissioner of Insurance Maria van Beek to manage its affairs as the government here scrambles to protect policyholders.
President Bharrat Jagdeo, speaking on the issue yesterday at a press conference at the Office of the President said “the court is in charge” but identified van Beek as the technical person empowered with the authority over the local company.
The court move was precipitated by the Supreme Court order in Nassau on Tuesday for CLICO (Bahamas) to be wound up. The Bahamas company at the time was holding 53% of the local company’s assets and there is thought to be significant impairment.
In her capacity as judicial manager, van Beek is expected to make a full assessment of Clico’s financial position and report to the High Court within a few days. She now manages all the affairs of CLICO (Guyana). She is expected to undertake an inventory of the local company’s assets as well as offer critical advice on the future of CLICO (Guyana).
Do you like this article? Share It!
0 people have spoken to "Court LOCKS DOWN CLICO (Guyana) Assets"
