Ramlogan made the disclosure to reporters following a New Year inter-faith service at the AG’s office in Port-of-Spain.
He said his office is currently vetting a complete version of the payout agreement that the Ministry of Finance has supplied. “For those with $75,000 and under there are no qualms. For those with more money than $75,000 there are some personal issues they would want to consider,” Ramlogan said.
The government has offered cash payments of up to $75,000 for everyone. However persons with more than $75,000 will get IOUs in the form of 20-year, no interest bonds.
In her New Year message Prime Minister Kamla Persad-Bissessar suggested that that could change if circumstances change.
"We have announced certain plans for both CLICO and the HCU (Hindu Credit Union). We ask you to trust us and promise that when the economic circumstances change there is all likelihood that the 20 years proposal could also change," Persad-Bissessar said in an address to the nation.
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Under the agreement that Ramlogan is currently vetting persons who accept the cash payment would be required to sign a declaration stating that they would not take any legal action against the state.
The payments to investors in the Hindu Credit Union are being handled through the Deposit Insurance Corporation in keeping with the normal rules of that institution, which pays a maximum of $75,000 to investors in a failed financial company.
Finance Ministry sources have told JYOTI the HCU payments will begin this month.
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