Parris decision expected by yearend

Former executive chairman of the collapsed CLICO International Life Insurance Company Leroy Parris is expected to know before yearend if he will get back the $4.5 million frozen by the High Court on January 27, 2015.

A key legal source close to the case told Barbados TODAY this week a Court of Appeal ruling was highly likely before the end of this year.

“A decision is imminent . . . yes. I expect it [to be handed down] before yearend,” he said, adding that this case was the mother of all CLICO-related cases, which would set a precedent for other such cases.   

Justice William Chandler had made the freeze order in an ex parte hearing filed by CLICO’s judicial manager Deloitte Consulting Limited against Parris and his private company, Branlee Consulting Inc.

The claim also named the estate of late Prime Minister David Thompson, represented by his widow, Mara Thompson, the executrix, as a defendant in the matter.

The order states: “If Leroy Parris (the first defendant) and/or Branlee Consulting Services Inc (the second defendant) fails to comply with the terms of this order, proceedings may be commenced for contempt of court. The first defendant and second defendant may be liable to have an order of sequestration made in respect of his/its or their property, and in the case of Branlee Consulting Services Inc any of your directors may be sent to prison.”

Parris subsequently appealed the High Court decision through attorneys Hal Gollop, QC, and Vernon Smith, QC.

News of an imminent decision in that matter comes on the eve of promised payouts to the 15,000 policyholders and investors of CLICO, scheduled to begin next month, bringing to an end eight years of pain and suffering by those who have invested their hard-earned money in the beleaguered life insurance company.

“Right now we just waiting for the process to take place now that the bar dates are finished for the transfer to happen. So we are holding, making sure that the judicial manager honours those commitments and those dates and times that have been checked. We are still hoping that December we will see people start getting payments,” President of the Barbados Investors and Policyholders Alliance (BIPA) June Fowler told Barbados TODAY.

Separate orders were issued in December last year by the High Court paving the way for the policyholders to receive their money next month.

On December 16, Justice William Chandler approved a transfer agreement between CLICO International Life Insurance Ltd, under judicial management, and New Life Investment Company Inc and Resolution Life Insurance Limited.

14 Responses to Parris decision expected by yearend

  1. Eddy Murray
    Eddy Murray November 29, 2017 at 9:28 pm

    But your friend in want to see you in these.

    Reply
  2. Johnathan November 30, 2017 at 4:53 am

    He Duprey,Terrence Thornhill, Karen Gardiner, Ian Garcia, Monteil and the whole gang who sucked CLICO dry should be imprisoned. That money should be put back in the comapny. That should be put to replace the 3. 345 million that he gave Thompson to move from CLICO without invoices.

    Reply
  3. Tony Webster November 30, 2017 at 6:00 am

    The Litmus test of Justice, cometh..”.friends” in high places notwithstanding.

    Reply
  4. fedup November 30, 2017 at 8:07 am

    He might get dee shock uh he life..along wid dee body in Thompo office dat sign de big check.

    Reply
  5. Rickie Nurse November 30, 2017 at 8:37 am

    Those freezed assets should go back to where they rightfully belong and that is in the pool for the policyholders to recover their losses. Leroy Parris and his coherts must be prosecuted for their wrong doings and not only have their financial assets freezed.

    Reply
  6. Alex Alleyne November 30, 2017 at 9:46 am

    WHAT ABOUT THE ” POLICYHOLDERS” ?????????????????????.

    Reply
  7. milli watt November 30, 2017 at 9:51 am

    sstttuuupppsseeeeee

    Reply
  8. Greengiant November 30, 2017 at 10:13 am

    Unless the court sees evidence of conflict, the money contractually belongs to Branlee Consulting. They were contracted by Clico to conduct business on it’s behalf.

    There would only be conflict if for example, ‘Parris was authorising the payments due his company when due, and not paying other persons who had payments due as well’. If there was never any payments going through his attorney first before being paid to Brandlee.

    Reply
    • Leroy November 30, 2017 at 10:33 am

      Your incorrect…i believe justice Chandler will do the right thing, he always hv.
      Thr $ belongs to policy holders and not no execs or their friends.

      Reply
  9. Ossie Moore November 30, 2017 at 12:37 pm

    But yuh mean to tell me dat all O’ dem you list Johnathan gine be wearing Blue Bummudas and blue shirt en gine be at de Royal Hotel fuh de New Year! Lord mek peace!!

    Reply
  10. Jus me November 30, 2017 at 1:16 pm

    Lawyerin headed up fuh he by non other than Hal”skin n bone” Gollop 5c plus change.
    Well know relative, left leg or higher up n middling of non other than
    Honesty is my middle name Sleepy Stuart, well known escspe artiste,and PM, impersonator.
    Renown as skin close tuh d plaintiff.

    Hands up any person in doubt, Mr Man Parris ent gonna get d loot!!?

    Hand down Jepter I ent mean you yuh ent a person yuh.is.a penis.

    Reply
  11. Belfast November 30, 2017 at 2:16 pm

    Why did he not put that almost $5 million on he mudda’s bank account.?

    Reply
  12. Ossie Moore November 30, 2017 at 2:50 pm

    Jus me tjhis is not the Hong Kong Restaurant and bar would you please stop making me choke on a Johnny Black ?

    Reply
  13. Delia Rose November 30, 2017 at 4:54 pm

    This criminal expecting to get back money. Wha happen to the policy holders. If the ruling is in his favour I hope to plan to give Mara her split

    Reply

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