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What’s at stake in liquidation*

Trinidad Express / If successful, the Government’s petition to have the High Court wind up CL Financial (CLF) will put many companies on the market. At one point, CLF, then chaired by Lawrence Duprey, was the most powerful conglomerate in T&T, a billion dollar enterprise with international companies born out of an insurance company, Colonial Life Insurance Company (CLICO). Here’s what is at stake- CLF owns: • CL Marine Limited – 100 per cent • Home Construction Ltd – 69.86 per cent • TTIN LLC (formerly LDI Ltd) – 100 per cent • Trinidad Bulk Traders Ltd – 100 per cent • Clico World Brands Ltd – 100 per cent • Caribbean Petrochemical Manufacturing Ltd – 100 per cent • COLFIRE – 94.04 per cent • CL Spirits Ltd – 100 per cent • CL Ventures – 100 per cent • Investors Holdings Ltd – 100 per cent • Mariner’s Haven Ltd – 30 per cent • CLF also owns 51 per cent of CLICO while the Government owns the remaining 49 per cent (CLICO is under CBTT management so it would be untouched by liquidation). According to the company’s 2017 management accounts, CLF’s liabilities exceed its assets by $3.4 billion. 

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