Afra Raymond Gets CLICO Data – A Case of FOI Working?
The CLICO debacle which has affected several Caribbean countries continues to reverberate. The catastrophic event has changed (should) how pan-Caribbean companies are managed. Are we satisfied that learnings gleaned in the post-CLICO collapse are being documented and changes made to processes and regulations to mitigate against a recurrence?
– David, Blogmaster
LAST week, nearly six years after he first requested the data under the Freedom of Information Act (FOIA), the Ministry of Finance sent Afra Raymond a compact disc with information on all individuals and institutions who received payments from the State for their investments in CLICO, the insurance company that collapsed in January 2009. The matter went to the Court of Appeal before the parties agreed on an out-of-court settlement with the ministry agreeing to most of Raymond’s demands.
For Raymond, an Express Business columnist, property expert and transparency campaigner, it has been a long but ultimately rewarding road, which began with the May 8, 2012 filing with the ministry. As to cost, he will receive 70 per cent of the cost of the litigation in the High Court.
He answers questions on the issue below:
Read full text HERE