Lawyer says Sakal put Duprey's interest ahead of everything

Gita Sakal

Senior Counsel Fyard Hosein on Wednesday accused former CL Financial corporate secretary Gita Sakal of putting the needs of Lawrence Duprey above the will of the country.

Hosein is the legal representative for the Ministry of Finance, stated yesterday.

Hosein made the statement in response to Sakal's statement that she brokered the sale of CLICO Energy for Duprey despite a Memorandum of Understanding with the government in January 2009, which prohibited the sale of any assets.

CL sold 84 million shares of CLICO Energy to a Barbados-registered company called Proman Holdings after a Memorandum of Understanding was signed in 2009 with the Manning People's National Movement government for a billion-dollar bailout of CL Financial. That represented 51 per cent of the shares of the company.

Sakal testified that she went to Tobago to meet with Joseph Cassidy of Proman Holdings on Duprey instructions. She admitted that she did not informa any of the CL directors about the meeting to discuss the sale.

"I obeyed the chairman. I did a lot of things for the chairman...whether it is right or wrong I stand by my decision to support the chairman," Sakal said.

"The chairman requested confidentiality about the sale, and I respected his wishes," she said.

She made those comments under cross examination by Michael Carballo, former group financial director of CL Financial. Commissioner Sir Anthony Colman ruled that Carballo could question Sakal.

Sakal's attorney, Justin Phelps, objected. "I have a serious concern about your enquiry permitting a person in the mere capacity of a witness to cross-examine my client," Phelps said.

Sir Anthony disagreed and allowed Carballo to cross-examine Sakal on two specific points—the allegations of his remuneration and his involvement in the sale of Clico Energy.