Duprey trying to stall CLICO enquiry

Lawrence Duprey, the former chairman of the cash-strapped Colonial Life Insurance Company Trinidad Limited (CLICO), is seeking to prevent Monday's start of the commission of enquiry into the collapse of the insurance giant.

In a five-page document delivered to the sole commissioner, Sir Anthony Coleman, lawyers for Duprey said that a lawsuit filed by the Central Bank of Trinidad and Tobago earlier this month against him and other former company officials would strain his legal resources as both proceedings would overlap.

Duprey is asking Coleman to reschedule the enquiry until the civil lawsuit filed by the central bank has been settled.

"There are major issues of regulatory oversight that will need to be aired during the civil claim and it is likely that you will have to look at these issues as well as the possible high cost of the civil claim by the Central Bank," Duprey's legal team said. "Such duplication will prejudice the civil action."

Fodder for political mileage

The lawyers cite the wide coverage of the commission of enquiry as well as it being fodder for political mileage as among the reasons to reschedule the hearing.

"The commission of enquiry concomitantly with the civil claim would be an abuse of the process of the judicial process in that there will be a substantial overlap of witnesses, information, and the subject matter involved," they wrote.

"Given the wide publicity, any findings of the commission of enquiry are likely to be prejudicial to the fair trial of the civil claim and the appearance of the administration of justice."

The legal team also noted that Attorney General Anand Ramlogan and "several other government ministers" have called for "certain matters" to be dealt with in this enquiry while stating publicly that those issues would be referred to the director of public prosecutions.

"As such, this will impact on any fair criminal trial that might be in contemplation, requiring someone in the position of Mr Duprey to fight on three fronts. There have been several reports by a certain government official that demonstrate the government's intention to use that commission of enquiry as part of the government's political campaign," the legal team said, adding that the enquiry should avoid being "dragged" into that campaign.

In the lawsuit, the central bank alleges that Duprey and several other former company officials misapplied and misappropriated billions of dollars to the detriment of its policyholders and mutual-fund investors.

Duprey's legal team is expected to file a response by July 6.

The enquiry, which had a procedural hearing in April, is scheduled to begin receiving evidence from June 27 to July 8.

- CMC