The court-appointed provisional liquidator looking after the affairs of the Hindu Credit Union on Monday denied that he has asked HCU president Harry Harnarine to resume control of the HCU group of companies.Harinarine told a meeting of depositors and shareholder last Friday that the provisional liquidator had asked him to take back control of the group of companies. But he said he was waiting to clarify certain matters before making such a move.
Harnarine told the meeting the HCU group is a separate entity from the HCU Credit Union Cooperative Society.
But liquidator Ramdath Dave Rampersad denies that and has been running ads on two radio stations making it clear that he didn't ask Harinarine to resume control of the HCU group.
Rampersad issued a statement to depositors of the HCU and the public “that they should view with scepticism any statement or release concerning the HCU unless made by or with the authority of the provisional liquidator.”
He said the inaccurate claim by Harnarine "may result in the undesirable and inaccurate public perception that certain persons have or continue to have a role in the management of the HCU together with the provisional liquidator."
Rampersad said he is managing the HCU with help from persons “expressly authorised by him.”
The statement said that under the terms of the High Court order dated July 23, 2008, Rampersad is required to take over and manage the affairs of the HCU to the extent necessary to maintain the value of its assets.
Rampersad assured HCU depositors and shareholder that none of the HCU’s assets has been liquidated. He said the court order does not require or permit him to liquidate any of the credit union’s assets.
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