Barbados: Former CLICO boss to repay Bds$4.4m

Leroy Parris

(Barbados Nation) A major case related to the collapse of CLICO has finally been settled, releasing millions of dollars for the benefit of policyholders.

In a victory for the attorneys of the judicial manager, Deloitte Consulting, acting through Patrick Toppin, former CLICO boss Leroy Parris and his company, Branlee Consulting Services Inc., have consented to the repayment of $4.43 million they had received from Clico International Life Insurance Limited (CIL). This includes the $3.3 million that was paid to Parris based on a controversial invoice issued by his attorneys, Thompson and Associates.

The judicial manager alleged that this was false invoicing issued by late Prime Minister David Thompson and this was why the deceased leader’s estate was also a party to the proceedings.

The monies were held in an account at the Bank of Nova Scotia and there was a garnishee order based on the action taken on behalf of CIL by the judicial manager in 2015.

However, on September 7, in an Order by Consent before Justice Cecil McCarthy QC, it was agreed between Parris and Branlee’s attorneys, Hal Gollop QC, and Steve Gollop; for CIL, Ramon Alleyne QC and Shena-Ann Ince of Clarke, Gittens & Farmer Attorneys-at-Law; and for Scotiabank, Nicolas Jackman of Chancery Advocates Attorneys-at-law to bring this matter to closure.

 

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