Bridgetown.
A restructuring plan for CLICO International Life was filed in the Hight Court by judicial manager Deloitte Consulting this week.
According to a source, companies that invested in CLICO high interest -paying Executive Flexible Premimum Annuities (EFPAs) which should have been sold only to individuals, will salvage their investment.
The restructuring plan for CLICO International Life does not involve the sale of its assets, instead the judicial manager has recommended recapitalization of the insurance company by the Government of Barbados and the Eastern Caribbean to the tune of more thatn $150 million.
