Bridgetown.
Deloitte Consulting Ltd, the judicial manager appointed by the Supreme Court of Barbados, to manage the affairs of CLICO International Life, will keep the policyholders and other stakeholders abreast of its actions and decisions.
This assurance was given to Trackker News by Deloitte's managing partner Patrick Toppin and chief executive officer Oliver Jordan.
"We are required to produce an interim report to the court in 30 days, and we will share our thoughts with the policyholders and stakeholders, after the court has evaluated our report", Toppin said.
According to Jordan, the policyholders will conduct their business with minimal interruption during the period of Judicial management.
Toppin and Jordan told Trackker News that under the Insurance Act,the judicial manager is appointed by the court and assumes control of the management and operations of an insurance company.
The judicial manager takes over the functions and power of the board of directors and can do whatever maybe necessary for the management of the affairs, business and property of the company, and run its operations.
