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BAICO matter set for July

The High Court today set July 18 as the date for the start of hearings of a proposal by the Judicial Manager of British American Insurance Company (BAICO) that outlines a way forward for the troubled insurer.

When the matter came before Justice Jacqueline Cornelius, the court gave directions and adjourned the hearing of all applications until that date.

Attorneys-at-law Kevin Boyce and Benjamin Norris, acting on behalf of KPMG, the Judicial Manager, are asking the court to approve the final proposal.

On the next occasion that proposal is expected to be heard, all other parties involved will respond subsequently.

Alair Shepherd, QC, is acting on behalf of Barbados Investors and Policyholders Alliance (BIPA), which groups BAICO policyholders. Samiya Desai is representing a corporate policyholder while Adrian King and Cyrilene Benskin-Murray appeared for the Financial Services Commission.   

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