Home' Trinidad and Tobago Guardian : September 26th 2014 Contents Highway Re-Route Movement member Leela Boodhai uses a damp cloth to hydrate leader
Dr Wayne Kublalsingh during his hunger strike yesterday outside the Office of the Prime
Minister, St Clair. PHOTO: CLYDE LEWIS
Friday, September 26, 2014 www.guardian.co.tt Guardian
in New York
NEW YORK---Clico and CL Finan-
cial yesterday made offers to sell
their shares in Methanol Holdings
(Trinidad) Ltd (MHTL) to Consol-
idated Energy Ltd (CEL), the
minority shareholder of the
methanol company, in keeping
with the 14-day deadline to do so
by the Court of Arbitration's
award, a source with knowledge
of the matter told the T&T
The three-member arbitration
tribunal, which had been sitting on
the shareholder oppression matter
brought by CEL since May 2011,
directed Clico and CL Financial to
make an offer to CEL within 14
days of September 11.
The combined offer amounts to
US$1.175 billion (TT$7.5 billion),
which was the value of Clico and
CL Financial's stake in MHTL
arrived at by the arbitration.
Clico made an offer to the
minority shareholders for the 49.9
per cent stake in MHTL that it
owns, while CL Financial made an
offer for the 7.53 per cent stake in
the methanol company of which
the group, which was founded by
Lawrence Duprey, is the legal
A source explained that Clico has
"beneficial interest" in CL Finan-
cial's 7.53 per cent stake in MHTL
but that legal title for the shares
remained with CL Financial. "This
was why the tribunal issued sep-
arate orders for offer," said the offi-
Clico's offer to CEL was signed
by the insurance company's man-
aging director Carolyn John, while
it could not be ascertained who
signed on behalf of CL Financial.
The Central Bank, which controls
Clico under section 44D of the
Central Bank Act, gave its approval
for the Clico offer.
Asked whether a legal challenge
by the CL Financial shareholders
to the offers was expected, the
"No. They have made their offer.
One would assume that the deci-
sion to make the offer was sup-
ported by the shareholders of CL
Financial, that they would have had
a board meeting and taken a deci-
There were suggestions from CL
Financial sources that the group
would challenge the Central Bank's
decision to suggest to Clico that
the insurance company's interests
would be best served by complying
with the arbitration award.
CEL has 14 days in which to
accept the offer made by Clico and
CL Financial, which they are likely
to do, according to the source.
Environmental activist Dr Wayne Kublalsingh
yesterday expressed fear that his body would
not be able to sustain itself until the return of
Prime Minister Kamla Persad-Bissessar to T&T.
Kublalsingh said he felt weak and dizzy on the
eight day of his second hunger strike over the
Debe to Mon Desir section of the $7.5 billion high-
The activist requested a meeting with Persad-
Bissessar in New York earlier this week but did
not receive any response from the Government.
Persad-Bissessar is in New York attending the
United Nation's 69th General Assembly meeting
in Manhattan. She is expected back home some-
time next week.
Kublalsingh said: "I feel pretty weak, I don't
know if I can go beyond the weekend.
"I am getting some dizzy spells. Sometimes
my heart starts racing. i get very dehydrated.
That's the situation with my body. I will see how
it goes over the weekend,"
Kublalsingh yesterday resumed his post outside
the Office of the Prime Minister, St Clair, after
spending the holiday resting, while other members
of the Highway Re-Route Movement, led by Move-
ment for Social Justice leader David Abdulah
showed the media a new proposal for a highway
route through the Mon Desir area.
He reclined on a chair, an umbrella protecting
him from the sun, while a woman cooled his skin
with a wet cloth.
He appeared weak and spoke slowly through
Despite fears his body would not be able to
sustain his hunger strike, Kubalsingh said he had
no intention of quitting.
"There is no stopping this. We have to go
through. The only thing that can stop it, of course,
is if my body relents. If my body relents I obviously
would have no control. I don't know what the
State would do or what my relatives would do.
I have not made any arrangements," he added.
He said the only thing that would stop his strike,
other than his body relenting, would be if Per-
sad-Bissessar put the Debe to Mon Desir leg of
the highway on hold and review the highway and,
as part of the process, review a new proposal.
He said the purpose of his request to visit Per-
sad-Bissessar in New York was to show her the
"She is busy. I saw her picture in the paper this
morning and she is on Wall Street and she appears
to be very preoccupied so that's fine, no problem,"
He said the new proposal was a beautiful solu-
tion which would save the Treasury over a billion
dollars and would save parts of the Oropouche
"It is the optimal technical solution and it dove-
tails with Government's own plans," he said.
Government has not responded to the new
proposal by the HRM. (See Page A11)
'Racing heart' but Kublalsingh
still on hunger strike
Clico to sell MHTL shares
Kublalsingh said yesterday
marked 201 days of his vigil
outside of the Prime Minister's
Office and dedicated the day to
inmates at the detention centre
who he interacted with regularly.
"The name Remand Yard is a
misnomer. They are living in a
hell hole. There are young men,
women and elderly people there
and they go to the magistrates
and they don't have a lawyer and
the magistrate says come back
in four months.
"It's abysmal, this kind of
suffering they are going through.
This requires the intervention of
"I admit that some of them
are kind of stupid fellas and
dotish fellas and they have a
piece of weed but they require
justice as anybody else," The
201 DAYS OF VIGIL
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