FINSAC is back

THE controversy-plagued FINSAC Commission of Enquiry will resume on Wednesday.

A Ministry of Finance public notice, published yesterday, said the commission of enquiry should get under way at The Pegasus hotel in New Kingston at 9:30 a.m.

The multimillion-dollar public hearings into the circumstances that led to the collapse of several financial institutions in the 1990s were stalled again after retired Court of Appeal Judge Boyd Carey, who was booted as chairman, challenged the Judicial Review Court's ruling against him.

Last month, Carey filed an appeal in the Court of Appeal contending that the court had erred in its decision because he was not a FINSAC debtor.

Several claimants, including former Minister of Finance Dr Omar Davies, had brought the motion contending that Carey was a FINSAC debtor and was not qualified to sit on the commission. They claimed that because he was a FINSAC debtor, there would be an apparent bias if he continued to preside.