Wrath of Khan? No, not Star Trek: TIME FOR ACTION ON BEHALF OF BARBADIAN CLICO POLICYHOLDERS

No more talk. Its time for action! That was the key message from members of the Barbados Investors and Policyholders Alliance (BIPA) at their meeting on Wednesday 11th July, 2012, at the Anne Johnson Auditorium.

The Alliance has now instructed its Attorney-at-Law, Mr. Tariq Khan {At Lectern}, to invoke Pre-Action Protocols against the Directors of CLICO, the Office of the Supervisor of Insurance and others.

In lay terms, this is the first step in the process of establishing who ought to be subject to legal action as a result of the collapse of the insurance company which has left many of the 25,000 Barbadian CLICO policyholders and their families in a state of desperation and destitution.

“Many of our members wanted to do this from the start,” says BIPA Chairperson June Fowler, “but we fully expected the Judicial Manager to initiate action of this kind a long time ago, and kept recommending to our members that we would explore all other avenues of persuasion and inclusion before considering and initiating legal action such as this.”

She continued, “But after over a year of trying to bring pressure via the media for an early solution; putting up with a litany of unfulfilled promises, empty reassurances, the ‘silent’ treatment from Government, as well as resistance to BIPA’s application to participate in the Judicial Management process as a legitimate intervener, the Alliance is unable to contain its frustration any longer and has decided enough is enough!

{Ed’s. Note Many BIPA members feel it’s ripe moment for July to become ‘MARCH‘ especially in view of the further downgrade from Standard & Poor’s and elections constitutionally due no later than first quarter of 2013!}

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