Port-of-Spain: The Government says it has paid over $1 billion so far to Clico and British American EFPA contract owners, who had policies valued at $75,000 or more. This represents payments to just over 2,100 persons.
Individuals who have so far received payment, got $75,000 in payment with the remainder being paid in bonds.
The ministry says bonds with maturities from one to ten years may be traded at registered financial institutions between now and March 31st, 2012, while bonds with maturities from 11 to 20 years may be exchanged dollar for dollar in a new entity called NEL Two that would be traded on the Stock Exchange.
You must be logged in to post a comment.