BAICO, CLICO policyholders planing joint legal action

A meeting of policyholders of BAICO and CLICO in St Vincent and the Grenadines (SVG) will be held next week to inform them about joint legal action which is being pursued by OECS policy holders.

According to a release, the British American and CLICO Insurance Company Policyholders Group (BACOL) was formed in Grenada in 2013 with the main objective of recovering of policyholder’s investments from the failed British American and CLICO Insurance Company, their subsidiaries and affiliates.

After its formation, BACOL was extended to include membership from Antigua and Barbuda, Dominica, St Kitts and Nevis and St Vincent and the Grenadines, in addition to the original membership of Grenada.

BACOL has retained an extremely competent Team comprising of eminent Queen’s Counsel Mr Simon Davenport (Head of 3 Hare Court Chambers in London, England) and Senior Counsel Dr Kenny Anthony (Former PM of St. Lucia), as well as Junior Counsels Mr Robert Strang and Mr Raphael Ajodhia, and experienced Trade Ambassador (Ret.) Mr Gerald Thompson.

The Team will be holding a Town Hall Meeting on Wednesday September 4 at 5:00 pm at the Methodist Church Hall to inform Policyholders of their rights within Community law, and to offer guidance on the timeframe for submission of the legal case to the Caribbean Court of Justice (CCJ).

The concerted hope is that the Meeting will lead to Policyholders from St Vincent and the Grenadines joining with approximately 1,000 other Policyholders in approaching the CCJ pursuant to their rights within the Revised Treaty of Chaguaramas.

Accordingly, all BACOL Members, as well as policyholders who may not now be Members of BACOL, but would wish to join in this litigation, are invited to attend this important Meeting.