Permell says PP gov't trying to sell Cl assets; Dookeran dismisses it as rumour

The CLICO Policyholders Group is again threatening to take legal action against the government of Trinidad and Tobago over the Clico matter.

The group's deputy chairman, Peter Permell, told the Trinidad Express the group wants to speed up the legal process because he understands that government is trying to sell off assets belonging to CL Financial.

Permell said he has received documents indicating that Price Waterhouse Coopers' Advisory Services (PwC) "has been contracted to provide support for the proposed sale" of CL Marine Limited – a wholly owned subsidiary of CL Financial.

Permell said any sale should be made public.

The Express said PwC authorised CL Financial to create a confidential 21-page "Teaser" detailing information about CL Marine to entice potential buyers but it was to be kept private and was not to be construed as a prospectus or public offering.

The "Teaser" listed the following companies that fall under CL Marine:

• Caribbean Dockyard and Engineering Services Ltd (CDESL)
• Rene Investments Ltd (Rene)
• Base Energy Services and Transportation Ltd (BEST)
• Caribbean Engineering and Marine Services Ltd (CEMSL)
• Teri Services Ltd (TERI)

The paper said Finance Minister Winston Dookeran has dismissed the potential sale of CL Marine as a rumour. "I don't know about that. You're hearing a lot of rumours these days," the Express quoted Dookeran as saying.

In a related development, Former Attorney General Ramesh Lawrence Maharaj has claimed that a foreigner was "possibly going to buy Methanol Holdings (Trinidad Limited)".

"There is a possibility that this is going to be sold to this person and that is why I am going to get a legal team to help me look over this document, as it seems to be very technical," he said.