Clico policyholders want action against people who caused CL collapse

The Clico Policyholders Group (CPG) wants Attorney General Anand Ramlogan to take whatever steps are necessary to bring to justice those who are responsible for placing at risk the CL Financial Group and the national economy.

“We want to be on record as saying we want the Attorney General to go after the perpetrators; the people who have put us in this position...There are no if, buts or maybes about that. We are categorical on that,” said CPG deputy chairman Peter Permell at a media conference Thursday.

He welcomed reforms but only if they don't harm policyholders. “We should not be paying for the sins of others. We don’t mind paying for our own sins but so far we are yet to see what those sins are. We made a proper investment.”

Permell said one of the most important issues in whole matter is the question of of the constitutional protection that policyholders have as it relates to property rights. He said if there is any legislation that infringes on that right, a court can strike down it down as an abuse of power.

"What we are seeking to do is protect our interest and our property. Money is now well-established as property by the Privy Council. So we are trying to safeguard our interests by, if necessary, taking legal action,” he said.