BIPA Shocked

BIPA’s response to the Court Approved Restructuring Plan for CLICO. Please note that in their rush to support BIPA, the Nation mistakenly published the wrong figures for the assets and liabilities of CLICO. According to the Judicial Managers’ Reports, as at March 31st 2012, the total CLICO International Life (CIL) liabilities were $837.4m and the “Fair Market Value” of the CIL assets at the same date were $441m. These figures include not only Barbados but also the regional countries affected.