Minister John Boyce having a drink in the company of Leroy Parris at Valery yesterday
In March 15, 2011 BU wrote about the insensitivity demonstrated by Minister of Finance Chris Sinckler, to be caught publicly sipping champagne in the company of former Chairman of CLICO Holdings Leroy Parris; he was all smiles on that occasion in the Sandy Lane Box on Gold Cup Day. Yet another minister is caught in the company of Leroy Parris at the launch of the Valery high rise housing project yesterday 8/11/2011).
It is a free country and ministers are free to fraternize with whosoever they please. However one would have thought with the CLICO Saga raging and a hotbed issue, ministers in government especially would show some modicum of commonsense and sensitivity indifference to policyholders who stand to lose significant lifesavings. So far the Deloitte judicial managers continue to search out the best way forward.
Where ignorance is bliss it should be exposed. Media reports confirmed that Prime Minister Fruendel Stuart along with Ministers Michael Lashley and Richard Sealy were in attendance at Valerie but appeared to have exercised better judgement to avoid being caught out. Kudos to Nation photographer Nigel Browne for the Kodak moment.
Somebody needs to give Leroy Parris some advise. Whether you feel you have done nothing wrong in your former capacity as Chairman of CLICO Holdings there is something called commonsense, please exercise some. Why would you want to keep a high profile position at this time?
To further rub salt in the wounds of aggrieved CLICO and BAICO policyholders we understand he is about to change his Mercedez.
Barbados Underground 
@ Inkwell
Thanks.
Is the bushman to conclude then, that you agree that all the current investments of the NIS should be made public and that the accounts should be up to date as specified by law -or that the Board should be dismissed in preference o a Board that can at least meet that basic standard?
If you agree with Boos (and the Bushman rarely does), how would you classify the recent decision of the NIS Board to SELL it’s shares in BL&P? Would you not have thought that it was an opportunity to hold or even further invest in such a critical (and well managed) Company?
…as opposed to this apparent headlong urge to invest in Persaud when no one else sees any future in his three seasons?
For what it’s worth, if you had any sway, would you fire the Chairman?
Those people in charge know that Bajans are a bunch of submissive, subservient church mice who will get in their little social gatherings and expel a lot of gas.
That is why they can flaunt LP in our faces with 2 fingers stuck up in the air at us.
You can’t have pins with LP, no needle and pins with LP; because he is we rich sweet benefactor.
To use a much heard phrase from LP: “Don’t you know who we is?”
Who the hell wanna stupid Bajans think wanna is? Ya put we there and we can spend wanna money as we like. “Like it or lump it”!
Go march like the grand ole Duke of York, this time OSA can head the cavalry!
Bush Tea,
You said that you rarely agree with PB, but you haven’t said whether you agree with him on this occasion. What’s there to disagree with? Every Barbadian is a shareholder in the NIS and has a right to details of its investment portfolio. And I don’t think that you disagree that the NIS ought not to be risking the people’s money and long term social security in highly speculative ventures as Four Seasons is, given the current world economic climate.
Now, I don’t know to what extent the Board takes policy direction from the minister, but, I would hope that the members’ integrity would weigh more heavily on their actions than the privileges of a pick on a Board. Today’s press statement by the Chairman shows the current status of the financial statements, but that doesn’t help us any with information on the investments and whether or not Government is misusing the fund as the opposition claims.
I know the chairman and though he can be a pompous ass at times (well, most of the time) he is well meaning and I give him the benefit of the doubt in his claims of effort and progress in getting financials to the public. He is a career banker after all and the necessity for timely financial statements is ingrained.
In the matter of Government’s L& P Holdings investment, sadly, the Government had little choice in the matter. The need for foreign currency far outweighed any thought of holding on to a solid investment for the long term, not to mention the considerable capital gain the sale achieved.
To MillerA:
What you are saying is true; we shall rant rave hope somebody does something because if there is lock up it would happen to them. And you and I would watch Rome as it burns for lack of a spinal cord or stiff back.
This government is behaving as if Bajans are either asleep or have become illiterate overnight. First , we are to be satisfied with a ceremonial leader as prime minister. then Barbadians must admire and have confidence in a government that continues to associate itself publicly with the former president of a company whose dealings have brought, and continues to bring immeasurable pain and suffering to thousands of Barbadian policy holders and their offspring; some of whom will vote in the next elections. Moreover,a man like Jeptor Ince, who morning after morning influenced Barbadians to put their hard earned savings in the Clico Balanced fund and other term plans knowing full well that the company was not in good standing is still closely aligned and advising this government. I wonder how many Bajans really listen to him?
We have missed the STRONG, CONFIDENT and POWERFUL prime-ministers. It is time for a new order of which the population can be extremely proud and confident.
@Inkwell;
Have you not understood Bushie’s previous posts.
We have no need for NIS funding, because we are soon to be uplifted to BBEland, so stop your fretting about the cheating bastards down here , we’ll be upstairs in the gods, laughing at their torment.
Ain’t it so BT.
@ ST
“….because we are soon to be uplifted to BBEland, so stop your fretting…”
————————-
But in your case ST, I would fret!!
-…..about to see your life savings evaporate before your very eyes….
-…seeing your retirement savings being converted to finance four-season luxury villas (to join the already existing empty ones we have).
Much like your last week at school, you choose to concern yourself with the chaos and uncertainties of “end-of-school-life” realities, while Bushie is focused on starting that exciting career with the Big Boss Engineering firm….in BBE Land. LOL
…let’s see who has the last laugh OK?
@ Inkwell
ST is largely right about BT.
Why realign the deck chairs on the Titanic?
….the issue is really the general lack of principles, disregard for honesty and not caring about others that has come to exemplify our society.
Even when your friend manages to get the accounts up to date in December, and even if the NIS performs remarkably well…. Will this address our real problem?
With respect to the L&P holdings, when we have reached the stage where it makes sense to sell the family farm to foreigners for 20 pieces of silver, -only to have to rent it from them at their price, so that our children can eat; we know that we have reached our lowest moral point.
It does appear that the current Board is making progress in addressing endemic lapses in accounting and reporting….
According to press report Leroy Parris was large and in charge at the Thompson book release at the Hilton yesterday.
The insensitivity of these people is mind boggling.
…. guess they think people will forgive them at election time.smh
No the voters will not forgive the DLP nor Freundel Stewart for their continuing association with Leroy Parris.
In today’s Sunday Sun the police are investigating the illegal activities of Clico under the leadership of Leroy Parris where 800 policies were sold after they were warned to stop selling these policies by the Supervisor of Insurance in 2009. Since he is seen regularly in the company of many elected officials and a FRIEND of the PM will justice prevail? If criminal acts like these are allowed to continue without prosecution, the whole insurance business can be seen as a scam. Government will be seen for what they are … criminally minded and to associate with the likes of this former head of Clico. is blatantly telling the public that certain people are above the law in this small country. This also shows the world what a corrupt society we have.
On the subject of Mia it seems Ian Bourne (Bajan Reporter) has a problem with what he is calling the October Revolution.
Today’s Nation and Last Night’s Barbados Today carried a story that a decision will soon be made on whether or not to prosecute top CLICO executives for disobeying the orders of the Supervisor of Insurance re. selling of EFPA’s. I wonder if anyone expects that to go in any direction other than to ignore the SOI’s order. However, If the unexpected happens and cases are brought, it will be interesting to see how it is dealt with in the current legal dispensation.
I had’nt seen IslandGal46’s post above when I wrote mine. I agree essentially with her. I am eagerly looking forward to the spin that will be placed on DT’s input into that fiasco if and when the statement exonerating the former CLICO executives is made.
@checkit-out
If we had FOI we would have seen how if any correspondence passed between the late PM and former Chairman of Clico Holdings on his reference that he consulted with Thompson.
A very bold and serious statement which has never been pursued by the media.
@ Checkit-Out:
You really can’t be serious! Do you really expect this Administration to initiate proceedings to bring charges against LP? Can’t you see that the JM has already limited the scope of the forensic audit to only transactions between group companies? This effectively would allow blame to fall at the feet of the Trinidad parent company over which the local law has no jurisdiction. Even the man TT in charge of the accounts is still flying high with his big salary and perks although the same JM established that the over $300 million in assets cannot be accounted for with no supporting documentation on record or on file. This is the height of incompetence and un-professionalism coming from a man trained in the art of finance and number crunching.
Listen to your small voice called Commonsense!
LP will continue to skin he teets at wunna because he knows that de day he start running he mout like a “sick nigger backside”, loads of big-ups would be on the toilet paper list he would used to stop de runnings!
David eff you is a Bajan you done know dat dead men tell no tales so unless Parris have a tape recording wha he say DT tell he doan count.
Anyway if this saga ends up in court Lawyers in Barbados and Trinidad will make millions over the next 10 years as per usual.
Millerthe Annunaki; Read my posts again. I don’t think I ever intimated that any putative action would go in a direction other than the one you have painted above. CLICO shuld be the horns on which the DLP loses the next elections but a credible opposition needs to show itself soon.
@Hants
You maybe correct, we will have to wait and see however if he has signed docs now that will be an entirely different matter.
Hants; taking your point above to its logical conclusion. Since dead men tell no tales, Parris can’t successfully claim that the SOI’ s order, re. sale of EFPAs, was overuled by the former PM (This will make the DLP hierarchy very vexed), therefore CLICO, under Parris’ leadership was in verifiable breach of the Law since he has no other point to justify CLICO not following the SOI’s directives, therefore a case can be brought against him and he is thrown to the wolves. Any other solution puts DT’s ever accumulating points towards sanctification by this Government in some jeopardy. The Government (The legal system thereof ) can only save both of them if the facts in the investigation as accumulated by the SOI’s brief are glossed over. Thats why I say I would like to see the arguments that will be made to throw out the case. They should be priceless.
Maybe we are splitting hairs because the written policy is evidence enough.
@ Checkit-Out;
Those who demand justice must come with clean hands!
The current Opposition is a toothless tiger whose hands are not clean with regard to the CLICO fiasco. Don’t expect anything but hot air coming from that side.
But you see this talk about reformation in the Legal & Justice System! Just talk and it shall remain so.
How can a country talk about justice when a blatant breach of the law goes unpunished because the perpetrator is a friend or pal of those responsible for enforcing the law?
There is a saying that the Law is an Ass! LP is really making monkey sport at the donkeys he has in his hip pocket for sale!
In terms of this Country’s Moral compass the direction in which the CLICO matter goes will measure integrity and honesty of Barbadians much flaunted belief in Christian principles and love of God.
Peoples I went to Brumley the school for dumpsy children but didnt all the infelicities of CLICo and Parris evolve and take root under the Arthur administration. What we are witnessing is the affect not the cause. Any court case and I wont mind seeing Parris in front of CJ Gibson must include the mouthy Permanent Secretary Layne and the Ministers he reported to in the 14 years See Thru ran things. Back then is when the rubber hit the road. After 2008 you talking about the effects of CLICO’s previous 14 years of infelicities.
David; Exactly!!. The written policies tell the story that CLICO was in breach whatever Parris’ defense. The best chance for the Legal system to exonerate Parris and the other executives from the consequences of that breach was to accept his story that a higher authority than the SOI gave them permission to sell the EFPA’s. In the absence of supporting evidence of that the CLICO executives should be made to stand trial. But if they were to stand trial who knows what facts they might bring out about the higher authority so it seems to be a general consensus that they cannot be allowed to stand trial.
Evidence exists of breach; CLICO’s execs can’t reasonably trot out former explanation for going forward with sale of EFPA.s in defiance of SOI’s orders; CLICO execs should stand trial; Trial not in best interests of dead King, dead King’s family, DLP, nor CLICO; Rationale for not having trial should be interesting to EFPA holders, people interested in the rule of law, and many others, indeed to a knowledgeable electorate.
Very interesting state of affairs. Lots more in the mortar than the pestle.
So that the issue is not whether CLICO breach the SOI order it is more about who was complicit in the decision.
MillertheAnnunaki; I agree almost totally with your post above.
Anonymous; Looks like you’ve almost totally exonerated CLICO’s former lawyer, David Thompson who was likely heavily associated with many of the CLICO actions over the same period mentioned and was essentially at the helm of them in his short period as PM. IMHO, if blame were to be shared between the three administrations re. the current outcome of the CLICO situation, I would rate the Owen Arthur administration at about 20%, the David Thompson Administration about 70% and the Freundal Stuart administration at about 10%. Re. the rot started during the Owen Arthur administration, that is arguable, but note that CLICO polluted the body politic throughout the Caribbean by a methodology of handsome payments, ostensibly for electioneering, to parties throughout the caribbean. The Owen Arthur rot was par for the caribbean course and was apparently predicated on an easily held view that CLICO was a well run company. The David Thompson component of the CLICO sht hitting the fan episode was unique to Barbados in that David Thompson should have known intimately of the CLICO influence-garnering practices and how that influence was used to the benefit of its executives and their friends.
You said “Any court case and I wont mind seeing Parris in front of CJ Gibson must include the mouthy Permanent Secretary Layne and the Ministers he reported to in the 14 years See Thru ran things.” You seem to have something against Layne who appeared, to me, to be the only person in authority to have stood up against the tide to tell it as he saw it re. the whole CLICO debacle. If there were a trial, against all odds, I too would like to see him on the witness stand along with the new St John representative.
It would be very very interesting to see the New CJ adjudicating a CLICO case. It probably will not be allowed to happen in the near future. But who knows?
If it was a criminal act to “breach the SOI order”, there is no defence of said act.
If the PM tell you to lick down somebody wid a big rock you gine do it?
The Law is the Law.
seem the lawyers have filed a stay against prosecution until the outcome of the judicial review. ( i taught the review was over now and they just had to decide on the course of action). Seem they would always have money to pay lawyers but not the policy holders. smh
http://www.nationnews.com/articles/view/clico-stay-bid/
So the CLICO lawyers are acting as if there is a slim possibility that their clients might indeed be brought to trial. Anyone wonder why the COP would bring the matter of their investigations on the matter into the public domain? Did he have to? Wouldn’t it have been better for CLICO to have the matter treated as normal with just a terse statement from the DPP, if pushed, when the matter was resolved.
@Checkit-out
Wondered the same when the statement was published, he could have stated the matter will be pursued like all other matters. There is a naivete how we seek to prosecute people in Barbados which supports the view that they are all in it together.
He could have made no comment. Why telegraph the status of the investigations to the possible wrongdoers? There may be more in the mortar than the pestle.
@ Anthony:
“Seem they would always have money to pay lawyers but not the policy holders.”
As person (based on your contributions) with more than a passing knowledge of the world of finance and accounting and their interface with business law you should have already come to a conclusion regarding the outcome of the CLICO tragedy. This terminally ill cash cow has been the source and sustenance of the largesse extracted by greedy executives, beggars of alms for political campaigning and parasitic ticks passing off as providers of professional services. Even on its dying bed it is being administered morphine paid for by the continuing premium contributions extracted by threats of being written out of the will even though the estate is full of encumbrances and tied up in litigation ad infinitum.
The only parasites who would be benefiting from prolonging the pain and wanting to see the clinically dead cow kept in a comatose state are those who fees are deducted upfront from the trickle of financial sucrose still entering the drip bag of policy premiums.
When it is finally allowed to remove the life support systems and pronounce the cow dead, the cost of this terminal care along with the undertakers’ fees would be so astronomically high as to blow the top off the gullible policyholders with many of them potentially suicidal and joining the long queue waiting to enter the gates at Black Rock. Nothing but bones would be left when the accounting and legal vultures are through with the carcass.
Millerthe Annunaki;
Well said! And we will continue watching the stellar performances by the various state and non-state actors in a constant, endlessly looping play that we have watched so many times before.
I say nothing will come of the COP’s statement yesterday, in view of the predictability of outcomes of matters like this in these Islands but I am still hoping that, just for once, true justice will prevail for the small policyholders and Parris and Stuart and Chris and Mara and Owen and some other Caribbean Politicians who might consider it to be in their best interests to support CLICO above its victims, will have their day in court.
I am after all essentially a dreamer.
actually forcing the premiums still to be paid is the only the kept clico from doubling over itself. That provide the cash flow so parris could get some of his “gain” which he should go to jail for
http://www.nationnews.com/articles/view/clicos-next-step/
http://www.trinidadexpress.com/news/GITA__I_KEPT_US_5m_CHEQUE_IN_MY_DRAWER-134094729.html
Yes! It will all come to light, even in Barbados.
Is the CLICO Barbados situation likely to be any different?
Oops! hold that thought. Is it likely that there was significant complicity in the whole debacle by their noted Lawyer here. If Sakal got a 40K retainer per month in Trinidad for her services, what do you think that the noted Lawyer here got? If the CLICO executives and their enablers in Trinidad got out the majority of their money before and soon after the collapse was it likely to have been any different in Barbados? And if Gita got the level of salary and retainers she got, what do you think Parris got? Why has the official reaction in Barbados been so muted?
The missing 300 Million plus from Barbados CLICO needs to be actively sought and recovered by any means necessary for paying out the CLICO policy holders and annuitants. Not a cent from NIS or our tax monies. The TORs of the Judicial manager needs to be widely expanded to seriously search for any moneys the executives and their retained lawyers might have salted away.
@ Checkit-Out | November 19, 2011 at 8:03 AM |
You will not see any serious investigation at this end.
It will be interesting to find out if the appropriate income taxes were paid on these huge bonuses and consultancy fees received by the various local executives. Well if the Duprey’s chauffeur in T&T was paid such handsome amounts one can wonder if LP is a tad jealous knowing that he was not the only “favoured” boy.
It would be interesting if the JM could disclose this kind of information to BIPA about tax deductions and payments to the local IR. We certainly are not going to get it because of the lack of FoI and Integrity legislation.
@millertheanunnaki
You should extended your comment to include that the BLP has no interest either in enacting FOI.
David | November 19, 2011 at 8:47 AM |
Agree!
Tweedledee & Tweedledum (er!) where this absolute necessity for the modern practice of democracy and open government is concerned!
How can political parties expect to offer people free education up to tertiary level, have the arrogance and gall to boast about it and then turn around and treat Bajans like silly little children?
They have learned well from the Church conjurers !
Its is very interesting to see the paucity of comments on this topic. Especially where concerned policyholders who presumably have a lot to lose, have apparently gone almost totally quiet in the midst of far reaching news coming out this week. Its almost as if someone is working obeah on the barbadian people. Or is it that people are resigned to the inevitable and cannot be bothered to comment.
@ Checkit-Out | November 19, 2011 at 2:39 PM |
You will be lone voice crying in the wilderness!
Bajans have acted true to form. They have lived up to the reputation and image other people have of them!
You check it out and see that the only people who would benefit from the circus performance taking place is the boys and girls in the business suits. The corporate pathologists and undertakers with high fees and charges attached.
Bajan will get sweet stool wiped into their faces and smile while others go to the bank smiling with U,S $5miliion cheques.
http://www.nationnews.com/articles/view/nis-50m-rethink/
Quoting Space Invader | October 9, 2011 at 6:59 PM | It’s OK.
According to Rihanna, high-class Bajans hail each other with the hypocorism “c*nt”
Rihanna whatever her present financial success is NOT a high class Bajan, never was, NEVER will be.
And this is the TRUTH.
It is IMPOSSIBLE to buy class.
Quoting millertheanunnaki | October 9, 2011 at 7:39 PM | “I wonder what is BONNY PEPPA ‘s take on the sexual appeal of the 3 men in the captioned photograph?”
Since Bobby has nor responded I’ll do so for her.
Without Viagra=0
With Viagra maybe Bonny could work a thing…maybe.
Quoting Carson C. Cadogan | October 9, 2011 at 10:57 PM | Was this a secret function where the Nation sneaked in and grab a few photos?…This photo shows DLP, Parris, BLP. May I ask if something is wrong here?”
Dear Carosn C. Cadogan can you please explain to us what is a secret function?
Can you tell us whether Cabinet Ministers who get paid from the public trough are always on duty or not?
Can you tell us if newspapers have a duty to ask questions, take pictures and in all other ways represent the public interest?
Tek ya time answering.
Quoting balance | October 10, 2011 at 3:06 AM | why keep skuirting around the issue and trying to place the seeds of misdeeds at everybody else’s foot other than the foot of mr parris’ advisors where the source of the misdeeds lay in the law offices in upper bay street next door to the brown sugar.why pillory everyone except the legal advisor?”
Fortunately for the legal advison he is DEAD, DEAD, DEAD. Best thing he ever did for himself.
Unfortunately for Parris his late legal advisor is DEAD, DEAD, DEAD.
But what the hell lawyers in Barbados are a dime a dozen.
Unfortunately for the DLP Bajans don’t talk much, but they will let thier X in the polling booth seak for them.
In my lifetime every political party has suffered a NASTY, NASTY surprise at the end of polling day.
One day coming soon…
Where there is easy money to be had (no creative thought, no risk, no hard work) you will always find lawyers, accountants and management consultants buzzing around like vultures.
The BIPA has been silenced and the management and consultancy fees are flowing like embalming fluids from the clico cadaver to these buzzards (aka in local parlance as “cubbas”)
Again a question is being asked: Have all the appropriate income taxes been paid to Inland Revenue in respect of all the bonuses and consultancy fees paid from the clico feeding trough?
This is one area where LP and co can be legally nailed and exposed to further public ridicule. Time to recover what is legally due to the Treasury. But again, these people have friends in high places, in both camps too.
Any investigation along these lines might reveal things of a very dirty and embarrassing nature. This nasty trail might lead to many who now pretend to be “above board” including the pols and ex-bankers.
But as the saying goes: “Only bout here!”
millertheannuki you is some kinda a joker? Surely you know that self employed lawyers, accountants, consultants and other “professionals” pay little or no income tax.
Why do you think that ordinar Joes and Janes have to pay 20% of thier gross income to Inland Revenue?
It is so that self employed lawyers, accountants, consultants and other “professionals” can pay little or nothing
Only ’bout hay.
@ Random Thoughts | November 20, 2011 at 9:03 AM |
Zoe forgive me. But allow me please to use your lord’s name!
Oh Lord! Please send down the IMF! Please, Father Above, save this place below from its self!
Barbados has been known as a well managed relatively orderly and law abiding country with well- educated blacks in charge of the reins of government. The Law meant something where governance is concerned.
Is this still the case “bout hey”?