Nothing to defend, says CLICO judicial manager

The man heading the CLICO judicial management team says he has nothing to defend following scathing criticism of the findings of the latest forensic report on the collapsed life insurance company.

Following a High Court hearing on March 10, the report of June 21, 2013 was unsealed for public scrutiny. The first audit report was made public over three years ago.

Over the past week, several concerns were raised about the findings of the much-anticipated report, with suggestions of discrepancies and accusations of half-truths made particularly by the legal team representing former CLICO chairman, Leroy Parris.

Contacted today, Patrick Toppin, head of the Deloitte Consulting judicial managers team, told Barbados TODAY “there is nothing to defend”.

Patrick Toppin
Patrick Toppin

“If you read the report that we’ve had, there is full disclosure of what was paid to us and our advisors. So there is nothing new and there is nothing to defend. It is all in the open and it is a part of our report,” he said.

Pressed to speak on what some described as inefficiencies in the report, Toppin said it was not something that he was prepared to be interviewed about.

“I really don’t have anything much to say . . . I am not going to engage any further in any discussion on this,” he added.

Asked to respond to comments by Prime Minister Freundel Stuart regarding “a list” of all the persons who invested in CLICO Executive Flexible Premium Annuity (EFPA) policies, Toppin would only say: “I don’t know anything about any list”.

2 Responses to Nothing to defend, says CLICO judicial manager

  1. Heather Cole
    Heather Cole March 19, 2015 at 12:07 pm

    There is no list. Is this a figment of the PM’s imagination or did he just tell a lie?

  2. Alex Alleyne March 19, 2015 at 2:04 pm

    Nothing to defend , i done collect my million(s), for my work . I done wid that .


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