Afra Raymond to get CLF information

FINANCIAL records of CL Financial (CLF) for the years 2008-2011 are to be released to the former president of the Joint Consultative Council (JCC), Afra Raymond, who sought information relating to the January 2009 bailout of Colonial Life Insurance Company (Clico) — a subsidiary of CL Financial.

At a Court of Appeal hearing yesterday, attorneys for the Finance Ministry agreed to the release of the information.

The ministry appealed Justice Ronnie Boodoosingh order, dated July 22, 2015, in which he instructed that it release the information Raymond sought under the Freedom of Information Act, on May 8, 2012.

The ministry claimed the judge’s order was too vague but they eventually held discussions with Raymond on exactly what information he wanted.

Raymond, under the Freedom of Information Act, asked for information on CL Financial’s audited statements for the years 2008 to 2011, along with any interim, preliminary, draft or unaudited statements which were relied upon by the Minister of Finance. He also asked for information of CL Financial’s creditors, mainly EFPA holders, the dates of repayment and the identities of those who investments were repaid.