International
Guyana Seeking To Recoup Millions Owed by Clico
GUYANA – Guyana has filed a lawsuit against the Trinidad-based Clico Investment Bank (CIB) Limited, seeking to recover over $34 million USD amid the bank’s compulsory liquidation.
GUYANA – Guyana has filed a lawsuit against the Trinidad-based Clico Investment Bank (CIB) Limited, seeking to recover over $34 million USD amid the bank’s compulsory liquidation.
Attorney General Anil Nandlall and Clico Life and General Insurance Company (South America) limited allege that CIB, a subsidiary of CL Financial Limited, transferred the funds to Clico Bahamas Limited, worsening financial losses.
The lawsuit claims fraud and mismanagement in the collapse of the Clico Group, which led to significant impacts in Guyana.
The court is being asked to enforce a 2019 decision against CL Financial and recover the funds held by the registrar of deeds.
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