7 News Belize

The CLICO Conundrum
posted (February 1, 2018)

And finally from the Prime Minister tonight, we asked him about the CLICO case that is currently before the Caribbean Court of Justice.  54 CLICO policy holders in Belize - who were left in the lurch after the Caribbean insurance company went belly up - are suing the government for 4 million dollars in losses.  They say the government should have protected them in the event of a bankruptcy - as happened to CLICO.  

The Prime Minister said he expects that the decision of the lower courts will be upheld - and government won’t have to find that four million:…

Rt. Hon. Dean Barrow - Prime Minister
"Well I wasn't aware that it's before the CCJ. I know that it's been litigated in Belize and that in fact the court of appeal gave a judgement which I read and which I thought was absolutely solid. So I would hope and I in fact believe that - that decision of the court of appeal will be upheld by the CCJ."

The CCJ has heard arguments and reserved judgement on the CLICO case.

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