Trinidad Express / So the PNM (People’s National Movement)-led Government wants to quickly appoint a liquidator, “wind up” CL Financial and sell off its assets so as to recover a $15 billion debt. CL Financial, through its shareholders, insist that the conglomerate can, over the ensuing few years, repay in full its debt to taxpayers—since the company incurred this debt through a Government bailout around 2009.
CL Financial—before its own, and the global financial meltdown which required government intervention in 2009—was the largest privately held conglomerate in Trinidad and Tobago, and one of the largest privately held corporations in the entire Caribbean. CL Financial and the HCU (Hindu Credit Union) are wholly indigenous African and Indian Trinidad grown corporations. CL Financial was larger than Neal and Massy and ANSA McAL groups.
It was only in November 2010 that Sir Anthony Colman was commissioned under the past People’s Partnership cabinet to probe and ascertain the reasons for the failure of CL Financial, CL Investment Bank, British American (T’dad) Ltd, Caribbean Money Market Brokers Ltd (CMMB) and the Hindu Credit Union Co-operative Society Ltd. Recommendations were also sought.
Become a subscriber to the Trinidad Express Newspapers for access to all our articles via our vNEWS. Subscribe to vNews | Log-In to vNews
CARACAS.- La espera terminó y los Rays de Tampa Bay, en teoría, reforzaron la posición que menos le estaba aportando a la ofensiva con el regreso del criollo Wilson Ramos a las mayores. ?Estamos felices por tener a Wilson Ramos con nosotros? , dijo Kevin Cash a MLB.com. ?Me imagino que probablemente tenía algunas inquietudes…
La compraventa de inmuebles como Torre Agbar, Xanadú y el Edificio España aumenta un 70% la inversión en el primer semestre hasta los 6.000 millones de euros. La inversión inmobiliaria vuelve a registrar cifras récord en el mercado español. A falta de apenas cuatro días del cierre del semestre, la compraventa de edificios y solares…
san fernando Prime Minister Dr Keith Rowley prayed with members of the Muslim community and distributed zakat (charity) to the needy as he celebrated Eid-ul-Fitr at two masjids in San Fernando yesterday. He attended the Eid services on an invitation from Minister of Local Government Kazim Hosein, who is also referred to as a…
gasparillo The mother of a disabled child was shot dead inside her apartment in Gasparillo yesterday. Ornella Philips, 28, was shot once in the chest. Her body was discovered lying in the living room around 10 a.m. The country’s murder toll now stands at 243. Her eight-year-old daughter, Kayla, has cerebral palsy and depends…
ISTANBUL (AP): Turkish police stopped activists for lesbian, gay, bisexual, trans and intersex rights from gathering in large numbers for an LGBT Pride event in Istanbul yesterday, but smaller groups made impromptu press statements, defying a ban imposed by the governor. Organisers of the 2017 Istanbul LGBTI+ Pride had vowed to march in central Taksim…
LONDON (AP): The list of high-rise apartment towers in Britain that have failed fire-safety tests grew to 60, officials said yesterday, revealing the mounting challenge the government faces in the aftermath of London’s Grenfell Tower fire tragedy. All of the buildings for which external cladding samples were so far submitted failed combustibility tests, Communities Secretary…
BAHAWALPUR (AP): Alerted by an announcement over a mosque’s loudspeaker that an overturned tanker truck had sprung a leak, scores of villagers raced to the scene with fuel containers yesterday to gather the oil. Then the wreck exploded, engulfing people in flames as they screamed in terror. At least 153 men, women and children were…
WASHINGTON (AP): Making a final push, United States President Donald Trump said he doesn’t think congressional Republicans are “that far off” on a health overhaul to replace “the dead carcass of Obamacare”. Expressing frustration, he complained about “the level of hostility” in government and wondered why both parties can’t work together on the Senate bill…
While reliving the horrors experienced by so many families after another spate of bizarre violence across the country last week, I couldn’t help but picture Tourism Minister Ed Bartlett’s rictus grin plastered on television screens while the elderly and even suckling babes were being gruesomely slaughtered inside their homes. While the rest of us were…
- 21 October, 2017 Breakdown in communication
- 21 October, 2017 Cuba, T&T trade ties growing says Cuban ambassador
- 21 October, 2017 God sent men who saved us
- 21 October, 2017 Trade Minister: Limited access to capital hurting entrepreneurs
- 21 October, 2017 Rowley: Emergency response time must be better
- 21 October, 2017 Corneal apologises to coach Lawrence
- 21 October, 2017 Rambharat: 404 vacancies in agriculture ministry
- 21 October, 2017 Unilever down $1.94
- 21 October, 2017 Flooding deja vu for some
- 21 October, 2017 Nursing shortage worries TTRNA