The Saint Lucia Distillers which is owned by CLICO is in the process of being sold, according to Political leader of the United Workers Party (UWP) Allen Chastanet.
Chastanet told St. Lucia News Online (SNO) in an exclusive interview today that the Saint Lucia Distillers is the last major asset that CLICO has in Saint Lucia.
“I am inquiring from the government whether in fact they have put any process in place to have any monies held in an account, in order to protect the many policy holders from CLICO, who have not received any money since the demise of that company,” Chastanet told SNO.
The Government of Saint Lucia has said it fully understands the anxieties of policyholders of CLICO who were adversely affected by the collapse of the former insurance company.
In 2010 the Registrar of Insurance intervened in the operations of the Saint Lucia branch and imposed a prohibition to writing any new contract of insurance and to refrain from any action that was adverse to the policyholders.
Furthermore, in 2011, the Eastern Caribbean Supreme Court appointed Richard Surage of PKF Professional Services as judicial manager for the branch.
Over time, the governments of the Eastern Caribbean and the court-appointed judicial manager for Saint Lucia and counterparts have considered several restructuring options and their financing implications.
“The Government of Saint Lucia continues to work closely with the government of Barbados and other OECS governments in an effort to secure the most advantageous and beneficial interest of our policyholders,” Prime Minister Dr Kenny Anthony said in a statement in 2013.