The issue of the collapse of the CL Financial and CLICO house of cards has dropped off the radar for Barbados Prime Minister Thompson and the Bajan media. Thompson’s government handed over millions in bailouts to CLICO entities – some of which weren’t even in compliance with Barbados laws requiring the filing of financial statements etc.
Oh well. No one can claim that transparency, accountability and rule of law ever meant much in Barbados.
Our friends over at Afra Raymond blog have been asking some good questions though – not that there will likely be any answers forthcoming because Prime Minister Thompson is doing his best to shield his old friend Leroy Parris from having to answer any questions.
Here’s some of what Afra Raymond is asking…
‘How could CL Financial assets have declined in value from over $100 Bn to $24Bn in less than 13 months?’
‘How could CL Financial pay dividends at a time when it did not have enough money to meet its obligations?’
‘How could CL Financial chiefs sign that MoU to pledge assets which had already been pledged?’
‘Did CL Financial ever comply with the Court Order to provide a sworn statement detailing the location of all its assets?’
Head over to Afra Raymond to read the entire story. It’s worth your time.
(Afra Raymond blog) CL Financial: The bailout timeline