Court ruled Executive Flexible Premium Annuities were not illegal

Dear Editor,

I read with interest your headline ‘Judge reprimands Kaieteur, Times for misconstruing testimony in murder trial’ (SN, October 23).  It is not only the Kaieteur News and Guyana Times that have misconstrued matters of the court.  Stabroek News’s own ‘Business Page’ has quoted the Chief Justice out of context.

In the ‘Business Page’ of September 19, 2010, Mr Ram writes, “The court has ruled as ‘unauthorised, illegal and unenforceable… Executive Flexible Premium Annuities.’  In fact on page 5 of his ruling the Chief Justice unequivocally states “…this Court must find that CLICO’s business with respect to Executive Flexible Premium Annuities was not illegal.”

Yours faithfully,
(Name and address provided)