Home' Trinidad and Tobago Guardian : July 6th 2013 Contents A9
Saturday, July 6, 2013 www.guardian.co.tt Guardian
The Court of Appeal has reserved judgment in
the appeal brought by the State challenging a ruling
that a group of Clico policyholders should be repaid
their full investments in the failed insurance giant.
Lawyers representing the State and the United
Policyholders Group completed submissions yesterday
in the appeal at the Hall of Justice, Port-of-Spain.
After hearing the lengthy submissions, the three
appellate judges opted to reserve judgment to a date
to be decided by the court. The panel consists of
Chief Justice Ivor Archie and Justices Rajendra Narine
and Gregory Smith.
While making submissions earlier this week, British
Queen s Counsel Allan Newman, who led the State s
legal team, asked the panel to overturn a judgment
Secretary General of the
Organisation of American States
(OAS) José Miguel Insulza says
the Caribbean region needs to
have a serious debate about the
"It is very important that the
discussions that we started at the
assembly of the OAS only a month
ago can open a way for a debate
on the matter. We have been wor-
rying about the issue of drugs for
the last 40 years. A lot of drugs
were confiscated in 2010, but half
of the cocaine that was produced
was confiscated. Sadly, the drug
trade continues," Insulza said.
Insulza was speaking on the sec-
ond day of the 34th Regular Meet-
ing of the Conference of Heads of
Government of the Caribbean
Community (Caricom) at the
Hilton Trinidad and Conference
Centre, St Ann s, on Thursday.
He referred to the report titled
The Drug Problem of the Americas
which he presented to experts on
the eradication of drug abuse in
the US last week.
Copies were sent to all heads of
governments of the region also, he
"Something has to be done with
regard to the use of drugs and
reducing the violence."
He said the drug problem exists
throughout the region but each
country has its own specific sit-
"In Central America only three
per cent of the drugs produced is
consumed in that region, but the
violence there is high. In Chile the
drug use is high, but the violence
is low. But we must find out why
in each country the problem is dif-
ferent," he said.
He said at the University of the
West Indies (UWI), St Augustine
campus at the end of July there
would be a conference on the OAS
"The National Drug Council of
T&T will participate and repre-
sentatives of the OAS," he said.
OAS urges Caribbean to seriously address drug trade
Guyana's President Donald Ramotar, left, chats with University of the West Indies
Pro Vice Chancellor and St Augustine campus principal Prof Clement Sankat, who
is also Guyanese, at the opening of the Caricom Heads of Government meeting on
Wednesday night. Looking on is ANSA McAL Group chairman and chief executive
A Norman Sabga. PHOTO: SHIRLEY BAHADUR
delivered by High Court judge Joan Charles in March.
Charles, in her 47-page judgment, had ruled that
the 250 members of the policyholders group were
given a legitimate expectation that their investments
would be repaid by the Government. The total value
of the claim was estimated at more than $300 mil-
Charles said: "I hold that the claimants are the
beneficiaries of legitimate expectations engendered
by representations made to them by or on behalf of
the Government, that Government would ensure
that their funds in Clico would be safe and that it
would guarantee repayment of all monies owed to
them and the Government would make good the
deficit in the statutory fund."
In his submissions Newman said it would be impos-
sible for members of the public to think that gov-
ernment s initial offer to repay their investments was
Newman said when the promise was made, after
Clico s collapse in 2009, the Government was not
fully aware of the insurance company s financial sit-
He said the Government had to balance the interests
of the policyholders with those of the entire pop-
In response, Peter Knox, QC, who is representing
the policyholders, submitted there was no evidence
in the case which showed Government was under
any serious misconception when it stated its position
Refering to the Insurance Act, Knox said the Gov-
ernment and the Central Bank had a duty to ensure
Clico s statutory fund was not in deficit.
"In April 2009, Government made it clear that it
would hold on to Clico s assets and treat them all
as part of the statutory fund," Knox said.
Knox said many of Charles findings in her judg-
ment were based on facts and evidence presented in
Ramesh Lawrence Maharaj, SC, and attorneys Peter
Strand and Vijaya Maharaj, also represented the pol-
The State s legal team included Russell Martineau,
SC, and Kelvin Ramkisson.
Appeal Court to
'get back' to
Links Archive July 5th 2013 July 7th 2013 Navigation Previous Page Next Page