The Government of St. Vincent and the Grenadines is taking further steps to address the challenges arising from the financial problems being faced by BAICO and CLICO Insurances Companies.
This is being done by way of the Plan of Arrangement BAICO and CLICO Bill, presented in Parliament by Prime Minister and Minister of Finance, Dr. Ralph Gonsalves on Monday October 19th, 2015.
While addressing parliament, The Prime Minister pointed out that the Legislation is intended to provide a framework to aid in the resolution of the insolvency of BAICO and CLICO by means of a Plan of Arrangement.
And Opposition Leader, Arnhim Eustace welcomes government’s efforts to provide relief to persons who lost money in the BAICO and CLICO debacle.
Parliament has been adjourned to November 23rd at 10am.