Canada Loyal Financial reported to be coming to rescue CLICO
There was a report in the local press on the weekend that Canada Loyal Financial is interested in bailing out CLICO. The policyholders have been emitting noises of quiet optimism since the announcement. Some of us however are alarmed a foreigner stands to own a significant acreage of our lands. If Canada Loyal Financial is able to acquire CLICO it makes a mockery of the government stated claim that it bought the old Heywoods property was in the national interest. At this point we can only speculate on the Nation newspaper report.
Who is Canada Loyal Financial?
I hope this deal comes through mainly for the sake of the long suffering policyholders.
I have a family friend whose father had over 500,000 dollars invested in there, the family needed the monies to look after their dad in his later years, they had to cut out the full time nurse and make do with a housekeeper to do the basic care for him whilst she looked after his meals. All the while…… all they would say is “to think this man invested all of his pension , insurance proceeds and gratuity and when he needs it he cannot get his money to see after his basic needs”. He sadly passed away earlier this year.
What ever happened to the last Judicial Report which was alleged;y to be sealed? What was it it that had to be hidden? The truth and a total expose of Greenverbs?
http://www.cbc.ca/fifth/episodes/2012-2013/rabbi-of-the-pure-hearts-inside-lev-tahor
David has this group arrived in Barbados? as they have in Trinidad? Were some seen at Cheapside yesterday?
Have no idea, tell us more.
Wuh de rangate I reading? People want duh facking money and David taking bullshit bout foreigners owning acreage? Something that’s been going on for years? STFU!! Ah wonda eff he got any money to ‘recover’? As long as they don’t own YOUR damn property yuh idiot!!! Sick of stupid ass comments.
And what makes anyone think BU does not want policyholders or should that be annuity holders to get their money? Next time they should ignore the inclination to let greed override commonsense.
@Prodigal Son “What ever happened to the last Judicial Report which was alleged;y to be sealed? What was it it that had to be hidden? The truth and a total expose of Greenverbs?”
Never, ever put all of your eggs in one basket. it is madness to do so. I learned this in Infants B. It is still true today.
Let me repeat.
NEVER, EVER PUT ALL OF YOUR EGGS IN ONE BASKET.
Another thing, remember that our Prime Minister said of Leroy Parris “he is not a leper. He is my friend” You can be sure however that Freundel did not put $500,000 of his own money in his friend’s company. And you know why? Freundel is smart enough to know that you should never, ever mix friendship with money.
And why did we vote for the DLP? Why is Leroy Parris’ friend our Prime Minister?
Another thing I learned in life. If you pull off your panties, lay down, and open your legs, you WILL be screwed by whoever happens to be passing.
If ys don’t want to be screwed, keep ya head and ya panties on.
Right now Leroy Parris’ DLP friends are screwing us.
Perhaps we deserve it.
We shudda kept we heads and we panties on.
Carson Cadogan and Peter Gilkes when wunna gine stop the shite as blind yardfowls blogging anonymously?
I am sure that in the fullness of time our government will tell us about this group. Of course the information will be given in a piecemeal fashion like all other policy decisions. This is just their way of doing business. All any right thinking person can do is hope that this one does not go belly up, and the unfortunate ones can finally be compensated, if not made whole.Neither this nor the previous administration ever really committed to a serious land policy, so why would anyone expect a different approach now? As always the highest bidder gets to name the tune to which we dance.
Simple Simon
I have never worn panties … and I don’t put my eggs in one basket … I am neither a fan of the DLP nor BLP, but yet I still getting screwed… in fact worse, every time you use the word “we” you’re including me. How you get to know so much ’bout me and I never meet you yet …?
Was David Simmons ever involved with Clico?
Dear David:
Since according to this Toronto Sun report http://www.torontosun.com/2014/03/05/lev-tahor-members-detained-in-trinidad-appear-to-be-trying-to-flee-canada
two of the children are still unaccounted for and since on Wednesday evening one of my family family members saw a man and more than one child dressed as described in the CBC documentary in the Cheapside bus stand I wondered if maybe these are the same people who recently left Chatham Ontario, and who are people of interest to more than one Canadian Children’s Aid Society, the Quebec courts, the OPP, the RCMP etc.
The family member who saw the group has spent some time in the Williamsburg district of New York city and so is familiar with the traditional dress of the ultra Orthodox.
They were attracting a fair amount of attention. It is not often that men (and especially children) in ultra Orthodox dress are seen pun a’ evening in Bajan bus stands.
Based on a review of its website and a Google search, DD sees nothing to suggest that Canada Loyal Financial has the financial capacity to buy all of the assets of Clico International Life (CIL) Insurance Limited and totally repay the principal sums to policyholders and investors in Barbados and the Eastern Caribbean.
Canada Loyal Financial is a (Canadian) Managing General Agency (MGA), which acts as an intermediary that connects insurance companies and other financial service providers with brokers and financial advisors who sell different financial product solutions to address customer needs.
DD found no financial information on Canada Loyal Financial or Lawrence R. Fuller its the President and CEO.
According to the Nation article “Chairman of the Barbados Investors and Policyholders Alliance (BIPA), June Fowler, said while the offer had excited many policyholders, based on the number of calls she had received in the last few days, she wanted them to bear in mind that the due diligence on this company would take time.”
From what DD found (did not find) in about one hour of due diligencing, BIPA members should not get their hopes up that Canada Loyal Financial will bail them out.
Nor should those “alarmed that a foreigner stands to own a significant acreage of our lands” concern themselves that CLICO’s lands will fall into the hands of Canada Loyal Financial.
@ David
Next time they should ignore the inclination to let greed override commonsense.
I am sick of seeing this comment time and time again from various bloggers who don’t have a clue as to what they are talking about. I see figures of 13%-18% interest bandied about that were never offered to investors in Barbados. When I invested a modest sum in an EFPA nearly 15 years ago, the interest rate being offered was only 1 1/2% above the rate offered by commercial banks – well within a “risk” margin. After 2 years, the interest rate dropped almost to commercial bank levels, and the savings accumulated compound interest over the period, to become a tidy sum that I will never see. This “government of the people” is only government of some of the people. Is it any different from Ukraine, or South Africa?
@DD
What does your due dilligence reveal about the owner?
@Peltdownman
Oh?
Why do the insurance companies in Barbados feel it necessary to take their policyholder’s money and buy land, clinics etc, instead of paying the claims to people who are deserving of them, heard the latest players plan to open an amusement park using crown lands by the harbor, just after paying $10,000,000 for Honda and $25 million? for Bayviiew, wonder which minister(s) is indulging him and his CGI partners in this, when they finally lose control of the company and it’s finances, that is when foreign companies come in and have free rein………GREED CAUSES IT, ask Leroy Parris and Duprey who is now hiding out in Miami..
I just pray & hope this information is true, & the people of Barbados & the eastern Caribbean countries get their money back. A friend last evening told us in Antigua he received 50% of a policy he had with American life, & that is all he is going to get, even though the policy was fully matured. Another friend who has worked all his life invested one & a half million in Clico, so here is hoping this is true, at least he’ll get back some of his money, & Leroy Parris & Duprey, with the DLP will not be able to spend it all. It’s only in Barbados & the Caribbean that these people are not in jail. I understand Trinidad has a warrant for Duprey arrest, but they could not be looking very hard.
Looking forward to feedback from our Maple Leaf family members on this one.
David
Apart from the material in the Canada Loyal Financial website (link at top of this blog) the only other reference I can find on Lawrence R Fuller the CEO, is at the website of The United MGA Group, an industry group of MGAs.
See http://www.unitedmgagroup.ca/en-about-board-of-directors.asp
Pretty much the same as in the Corporate Profile in the Canada Loyal Financial.
I have found no financial information on Lawrence R Fuller, Canada Loyal Financial or The United MGA Group.
I cannot imagine that they have the financial resources to bail out the CLICO investors, policy holders and creditors.
It would be interesting to know where Ms Fowler got her info.
All I can say is “don’t hold your breath” for this group to save the day
@DD
Thanks, we must conclude this Fuller person/Canadian Financial is a front.
@David,
Canadian companies are good at getting private investors to put money into high return low risk investments.
There is a whole lot of oil money in Alberta looking for a home and raising a few hundred million is no big deal.
Don’t waste any time searching the Internet for info on CLF.
Private companies do not have to disclose information.
http://www.canadaloyal.com/our_partners.php
Ok David all jokes aside.
The Clico policy holders need a break.
A lot o them getting old and need money to help them in their old age.
Lets hope these Canadians are serious. Our children can always buy back the land in 10 years eh!
BAFBFP March 7, 2014 at 8:13 AM “I have never worn panties … yet I still getting screwed”
No wonder.
@Hants “Our children can always buy back the land in 10 years eh!”
Yeah!! Right!!! like how we can buy back the land at Sandy Lane. The only way we will get to buy back Sandy Lane is if there is a tsunami, then the land will be on sale all a’ penny
Hants man stop mek’ing sport at we
I heard my PM’s voice on the radio this morning describing human trafficking as a “new threat”
This man fa real?
Who is his speech writer?
Somebody needs to tell Freundel, if he ain’t learn it at Foundation or UWI that the majority of us in the Caribbean came here because our ancestors were trafficked here and then enslaved here. It ain’t new. 100 years ago there was still at least one formerly enslaved person still living in Barbados. And I am FAIRLY sure that Freundel’s parents (or beloved grandparents) as were my parents were contemporaries of that lady.
THE DICTIONARY SAYS THAT CONTEMPORARY MEANS BEING ALIVE AT THE SAME TIME. .
So no we have not yet forgotten slavery. And we have not forgotten who were the principal human traffickers and enslavers, white British men, and white American men, and that they became very, very, rich from trafficking and enslaving human beings, many, maybe most of whom were teenage boys and girls.
And how do we know that the traffickers knew that the people being trafficked were fully human. Because the largely white, largely male, largely older trafficers and plantocrats were busy having forcible sex (raping) and children with the teenaged girls who were being ripped from their homes and families.
THE DICTIONARY DEFINES RAPE AS HAVING SEX WITH A PERSON WITHOUT THEIR CONSENT.
Ah lie?
Am I historically incorrect?
Human trafficking is NOT new, and it pains me greatly to know that my Prime Minister is so deluded that he can describe human trafficking as A new THREAT.
It made me wonder if that speech was written by some wet behind the ears British foreign service officer.
If so somebody needs to tell the PM that there are hundreds of young Barbadians who can write him a historically TRUTHFUL speech.
@ Maple Leaf
Hope you are not suggesting that a bail out of CLICO is a high return low risk investment.
You may want to read the comments of Prime Minister Spencer of Antigua and Barbuda in the article on the back page of Barbados Today at:
http://epaper.barbadostoday.bb/?utm_source=homepage&utm_medium=epaper-cover-thumbnail&utm_campaign=epaper
Strange to read about a politician who does not try to sugar coat a situation.
Simon…….you gotta remember that these local politicians would love to forget their ancestors were enslaved and brutalized, they prefer pretend they are diplomatic and that their ancestors were doing business with those criminals in the 14th-19th century…..Stuart loves to say ‘Barbados has been doing business with so and so from the 17th century’…..not unlike the jews he hosted recently who wanted town and planning permission to extend the jewish cemetery, proud Stuart would never admit or teach his own people that those same portugese/spanish jews who were in Barbados at the time were all allowed one black slave per person………..as usual the black politicians remain in denial………….did any of the leaders in Barbados visit the African slave burial grounds scattered around the island haphazardly???
Use of the word African as a description of a person shows a lack of understanding of the many different tribes and tribal areas on that vast continent.
Likewise it suggests a homogenuity that has never existed,as shown over the centuries with one tribe selling/murdering/raping/commiting genocide on another tribe.
Note this is common tribal behaviour all over this world.
……….Some of us however are alarmed a foreigner stands to own a significant acreage of our lands………..
How long was this going on? Except for the credit unions, tell me what big locally owned financial institution Barbados owns? We bemoan the fact of the lack of foreign direct investment. Now it ‘might’ happen with regards to Clico, the conversation will turn around to the foreigners owning this and that.
@Kevin
Your intervention and comment is to point to the fact it has been happening for a long time? What about here and now and the opportunity of local deep pockets to show some pride and backbone and protect our fields and hills? Besides COW which Barbadians has been committed to buying land?
It is not about forcing anyone, it is about if they don’t what happens and what is government’s responsibility to facilitate such investment in the way it has done for Butch Stewart. There is a national implication for selling our asses to foreign, it speaks to pride and industry. Get it?
You cant force local ‘deep pockets’ to invest where they don’t want to invest. And keeping to the subject, investing in Clico would be quite a high risk to local risk-averse Barbadians.
And to your next point many Barbadians do want to buy land, but they cant afford it.
Hmmm, I see your point David. But our foreign reserves under the Owen years was to a large extent propped up by the foreign direct investment (buying lands/property). So somehow we would have to balance the two.
FDI was also supported by borrowing at low rates and NOT always based on the true earning capacity of the economh.
Looking for a live stream of the sandy lane gold cup.
http://www.huffingtonpost.ca/2014/03/13/canadian-doctor-us-senator-health-care_n_4956468.html?utm_hp_ref=mostpopular
I sent underground last week KHAKI BOYS yotanka tatanka. in that is all the story about SGT Oliver Jordan shot by RBPF 30 years pass. I am asking readers to say if this is the father of Oliver Jordan of Deloite and PWC and the judges manager. I just send it again to you and ask the blogmaster why not published. he don’t reply.
DUE DILIGENCE ATOP . LIKE U SAY THERE IS NO FINNANCES INFO ON CANADA LOYAL I ask if they are money laundering. are they friends of Lawrence Dupray. like a front for dupery
we think it is Duprey money from Miami, laundried in offshore places coming through Canada loyal. which has no money of it owns, Lawrence Fuller look like a Leroy Parris white version
we think this is a deel put up by Freundel Stuart to keep us happy and take credit for sorting out this thieffing.
we think Oliver Jordan and PWC are organising this . that is why we wanna no if this OJ is family to the Sargeant who was murdered cause he knew to much
PWC is the auditor of Canada Loyal
OJ was at Deloite and went to PWC. and his report deloites is sealed by the court on orders of one Ramon Orlando Alleyne . and he is of Clark Gittens Farmer who did all the dirty work for Parris and friends co long with other attornies too many to call now. and they are close with Lex and Leslie Haynes who was the Chief legal man at CLICO BAICO. and LEX is who defends Haynes and the other s. and LEX is Gareth Patterson who was Pal of David Thompson who was money laudring and left 40 million dollars
who defends PWC i want to know. who?
we went on PWC London Miami Toronto; lots of happy face partners. you go on PWC Barbados and Trinidad; no partners named; no faces; hiding. why? you know why.
this is one bif thiefing with all the big politicos involved while we suck salt. all pals. we want the police to go after these people using the Proceeds of Crime act just As if they are drug dealers , which they may be for all we know.
Sgt Jordan was murdered cos he knew about Errol Walton Barrow Mark Stokes; chief Justice Douglas, white Swedish boys and bulling. that bulling habit is big in the DLP and still goin on. so we think Oliver Jordan in PWC is a SPECIAL PERSON cos he family history and dirty politics, and we think the Prime Minister in all of this. the same laundering with the Cahill Energy thing out the Cannel Islands in England. more money laundring. while we poor blacks suck salt these smiling shits are bulling we. f%&k dem. crack de f$%kin heads.
You sent a document which is 201 pages to BU a few days ago and you expect we will post it without reading it first? Relax!
@ David[BU]
As the months rool forward and more people within the public and private sector start to get laid off BU can expect a few documents that are going to “drop off the truck” from former employees who are privy to the various secrets of their bosses and or clients of the institutions that they were previously employed by.
“Likkle by Likkle” to quote the little grandson from the ** child of my 1st wife, who is now starting to talk in that way that 2 year olds endear themselves to you, likkle by likkle all of the secrets are coming out as the previously trusted conspirators find themselves unemployed and on the streets with the rest of the terminated.
What is a strange thing is that they are taking records with them and wisely publishing them for everyone to see whu really going on at the various levels in Barbados
Your team is going to have alot of reviewing to do, mark my words.
For the people who have information and want to get it seen but are frightened that it will be traced back to their computers by the illiterati at the RBPF (policemens who does not evan have email addresses for their respective stations and have to give out gmail addresses to the public) I recommend that you use the site http://www.hongkiat.com/blog/anonymous-email-providers/
Fight Back!!
Time for making a change, not with guns but by the power of the pen/email
David. you are a real slow reader!!!
please!!!. you have me curious!
David
you read that 201 pages yet?
ALL ABOUT to Mark Stokes and Pele Parris?…correct?
if you check blog Chris McHale takes on PWC; March 7
you see MONEY BRAIN @ 10.11 .
YOU THINK MONEY BRAIN MAKING A THREAT ON MCHALE’S LIFE?
We DO.
@ DAVID
you know all that goes on. was SARGEANT OLIVER JORDAN THE FATHER OF OLIVER JORDAN EX CIBC/FCIB, BARBADOS TOURISM AUTHORITY, BTA, DELOITTES THE JUDICIAL MANAGER OF CLICO AND NOW PWC?
TELL US SO WE KNOW PLEASE, PLEASE.
Well Well | March 7, 2014 at 9:31 AM |
Was David Simmons ever involved with Clico?@
You have to know better to ask that question ,, David Simmons AG/ Ex CJ , still crook liar and scumbag was in every thing, David Simmons CLICO , High Court , Sir Ham all on the DEED , you can stand and see all 3 building , Stand any where on WhitePARK road and see all 3 building .MIA , OWEN , Mark Cummings all have to know. You need not turn your head ,Well Well