Bridgetown.
Two days after Commissioner of Police Darwin Dottin, stated in a press interview that the police probe into the alleged contravention of an order by Supervisor of Insurance in August 2009 prohibiting CLIOC International Life (CIL) from selling new business was at an advance stage, and a decision would be made soon as to whether criminal charges would be laid against directors and executives of the company.
Lawyers for CLICO Holdings rushed to the High Court yesterday in a bid to halt any possible criminal proceeding against directors of CLICO International Life.
Lex Caribbean the company's lawyers filed for a stay of criminal proceeding, until the outcome of an judicial review into CLICO Life.
The Financial Services Commission which recently took over the functions of the Office of Supervisor of Insurance is listed as the first respondent in the lawsuit.
