Port-of-Spain: Yet another lawsuit arising out of the failed insurance giant Clico. This time, policyholders are suing the attorney general. This latest lawsuit is being filed by Percy Farrel the court appointed representative of all EFPA policyholders of Clico who do not accept the plan by Finance Minister Winston Dookeran.
The plan announced by the Minister, according to court documents filed by the policyholders seeks to exclude the EFPA holders from benefitting from the trust established for the purposes of Clico's statutory fund obligations.
The initial suit was againt Clico and the Central Bank and the Finance Minister Winston Dookeran.
But a motion filed in court today, adds the Attorney General onto the matter. The constitutional application, argues that the plan by the minister infringes upon their constitional rights and freedoms.
Attorneys Senior Counsel Claude Denbow, Dharmendra Punwasee and Donna Denbow along with Senior Counsel Seenath Jairam and Rishi Dass are representing the policyholders in the matter.
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