Antigua and Barbuda threatens to sue Trinidad and Tobago for $60 million

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Prime Minister Keith Rowley and Prime Minister Gaston Browne

Prime Minister of Antigua and Barbuda, Gaston Browne, said yesterday that Eastern Caribbean countries may have to file a lawsuit against Trinidad and Tobago for US$60 million, connected to the collapse of CLICO and British American Insurance Company (BAICO) in 2009.

Speaking on radio in Antigua yesterday, Browne said the T&T Government had made a commitment to pay US$100 million to the countries of the Eastern Caribbean Currency Union (ECCU), but only US$40 million was disbursed.

“Possibly, we may eventually have to sue the Government of Trinidad and Tobago because, as you know, they had agreed to provide a settlement of US$100 million. They paid about US$40 million and the balance of US$60 million remains unpaid.

“We have written to the Government of Trinidad and Tobago. They have not even treated us with the type of respect that is typical among countries and colleagues.

“So, we will be writing to them again. This will probably be the third time and we hope that now that their fortunes have improved—as they are benefitting from the escalation in oil prices—we hope they will put some system in place to cover the rest of the liability.

“I mean, if they continue to treat us with contempt we will have no choice but to sue them.”

Browne said he took over the chair of the sub-committee on insurance in the ECCU last year.

Since then, he said, significant progress has been made in recovering some of the investments in CLICO made by residents of the Eastern Caribbean:

• The Government of Barbados agreed to pay US$37 million for the real estate assets of CLICO International in Barbados;

• For BAICO, we will be getting some US$9.2 million from the Government of St Kitts for the Nevis Island Administration Fund;

• I believe that there are US$8.2 million for us to collect from the St Lucia pledged assets;

• And we have agreed to the sale of real estate assets in the various territories; and

• We are pursuing litigation against Duprey and company.

Separate lawsuit

A group of British American and CLICO policyholders in the Eastern Caribbean filed a lawsuit at the Caribbean Court of Justice against the Government of T&T in October 2021.

According to an October 18, 2021 news release issued by the group, its case is that its members, policyholders of British American, “are entitled to restitution, on par with that paid to British American policyholders who are Trinidad and Tobago nationals.”

In their case for fair and equitable compensation, the group is arguing that in the 12 years since the collapse of British American, policyholders in the Eastern Caribbean States (OECS) of Antigua and Barbuda, Dominica, Grenada, Montserrat, St Lucia, St Kitts and Nevis, and St Vincent and the Grenadines, “have been denied the return of their full investment made into the various BAICO Agencies in the Eastern Caribbean, and that these funds were ‘treated’ by the parent entity and related Parties in Trinidad and Tobago.”

They also claim that their counterparts in T&T have had substantially most of their investments returned to them, OECS Policyholders have so far received only 14 cents on the dollar (14 per cent).

“The inequity has severely impacted the lives of thousands of policyholders and their families across the Caribbean, many of whom have lost substantially all their savings, retirement and pension benefits, etc., leading to immeasurable hardships and many lamentable and woeful outcomes, all with devastating impacts on their quality of life.”

The policyholders group is represented by British barrister, Simon Davenport QC.

Browne was speaking Saturday on Pointe FM.

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21 COMMENTS

  1. Gaston ask yourself the question: Why is TRINIDAD IGNORING YOU!
    Ask yourself another question: Why do the CARICOM Prime Ministers ignore you.

    Answer: They do not like you. People show you how they feel about you in different ways.
    ROWLEY has given you his answer. Because they do not like you, Antigua suffers.

    You are not a good person. You bring hardship to Antigua. Your bad-manners and your crude behavior makes your CARICOM COLLEAGUES dislike you.

    YOU ARE THE WORST PRIME MINISTER , EVER!

    • The Prime Minister is a LITIGATION master and a nasty piece of work @ Sam’s sister.

      He’s always ah skin teeth with the Caucasian leaders of the world (go back and look at previous pictures yourself for confirmation); yet, when he’s around global leaders of a darker skin tone, Gaston Browne prowls and growls like a hyena to create political issues with his Caribbean neighbours.

      His aggressive demeanour – even with his own citizens – just downright intrigues me.

      I’ve heard many commentators on here (in the past and present) say that the PM doesn’t like black people.

      To be honest, I treated it as a joke at first. But, when I saw him bounce out of his vehicle recently to meet Union representatives and their members; you could see the disdain he had for each and every one of them.

      And don’t forget, that he doesn’t like to pay workers and pensioners. Wow!

      I’m not surprised that other Caribbean leaders are very wary of our Prime Minister, he not only speaks with forked tongue, but they know that litigious matters could be forthcoming.

      ANTIGUA NEEDS A NEW LEADER AND A NEW ADMINISTRATION … NOW!!!

      • What did Baldwin Spencer and Harold Lovell as Finance Minister do when Clico and Bi Co took all those Antiguan and Barbudan depositor and investors money?
        NOTHING
        But now Gaston dealing with a 13 years ago issue y’all complaining….

    • You’re such a Fool- the other countries feel threatened by his smarts. Liat, Harvard University, Ecab owning Scotia Bank and UWI five Island being here are just 4 easy examples of things that’s benefits Antigua and Barbuda that never would have been possible if he wasn’t who he is…..
      Trinidad was one of the countries opposed to Antigua and Barbuda owning its Uwi Campus …..
      Thank God For Hon. Gaston Browne …… Best PM in the Caribbean by far.

      • @ SLOWER THAN MOST A LITTLE FASTER THAN A SNAIL.
        The other CARICOM all know that Gaston is a fool.
        They know that his oversubscribed bond of one failed
        They know that he cannot sell Jolly Harbour because something as simple as checking to see is all was right by-passed Gaston
        They know that houses in his constituency burned down because he was busy cussing people on social media to know that there was only one fire truck
        They know that he promised water in 14 days but 8 years later the water situation is worst.
        They know that ever he received 2 billion from CIP yet cannot pay pensioners
        They know that he holds ground fakings with no result
        They know that he don’t like black people
        They know that he take the best farm land for himself
        They know that he cannot afford to pay small contractors
        They know that no accountability for hurricane Irma FUNDS
        They know that pensioners get paid late
        They know that ever week somebody strike against him because:
        HE IS THE WORST PRIME MINISTER EVER.

        THAT IS WHY ROWLEY THROW HIS LETTER IN THE WASTE PAPER BASKET AND MIA WAS CHOSEN TO BE ON THE COVER OF TIME MAGAZINE.

        GASTON A CLOWN, A JACKASS, AN IDIOT AND A FOOL.

      • “Thank God For Hon. Gaston Browne …… Best PM in the Caribbean by far”.

        @ slow or Fast, I like your sense of humour, your comic timing before the general election is called is exemplary … 👍

        I NEEDED A GOOD BELLY LAUGH … MI RIB AH HURT MI BOSS 😂

    • @ mister Lol wage war with a country that’s way bigger than us and worst 🙆 with one itsy bitsy air force plane.
      It will run out of gas before it reaches Trinidad
      Hmmm can’t even get Liat to stay up too shuups.

      • @ I am sure that Rowley is shaking in his boots because Gaston roared!. HA HA HA !
        He can’t even get his pals at Long Bay to stop building on the beach and he feel that Rowley fraid him.
        Gaston is a jack ass, a fool, an idiot.
        HOT AIR AND BLUFF

  2. All i want to know is if these person’s bashing Gaston think Harold Lovell is a better alternative, all of them steal no doubt about that although some may argue Harold steals more from the country than he puts in, take his 2012 national budget plan it is on Google just type it in on Google, from that we can see the changes made to this economy for example there have been a drastic growth In the ministry of education during the ALP administration than there was when Baldwin was prime minister anyone who can say that the country is worse off now than it was during Baldwin’s administration are liars and they are bias, listening to his campaigns and Rally’s hurt my head to hear a educated man of his degree say these asinine comments that ppl believe when i hear them i ask myself one question, WITH WHAT MONEY HAROLD? ,he is yet to tell us HOW things will be better, ppl seem to overlook all the great things labour has done and only look at the bad which is menial, for example during UPP in 2013 i received water once a week if so much under labour i receive water every other day or every 2 days IS THAT NOT BETTER?, Gaston tries to work on meaningful projects with money from loans which generate revenue to payback the loans, oppose to foolishness like the big half-assed monstrosity at east bus station that is another way of how UPP wasted tax payers money, having a UWI here in Antigua is a very important thing ppl don’t look at as they should, by providing a tertiary level of education In this country he is expanding our possibility production curve which will expand the economy. What i have come to notice is that Alot ppl who vote for both party’s vote because that’s who their predecessor voted for that chain needs to be broken. Labour all the way because it is the only party fit to lead Antigua out of poverty atm.

    • LEAD ANTIGUA OUT OF POVERTY?
      THERE HAS NEVER BEEN SO MUCH POVERTY IN THIS COUNTRY SINCE THE ABLP TOOK POWER.

      PEOPLE HUNGRY HUNGRY AND CANNOT EVEN BUY GAS.
      CERTAIN FOOD ITEMS ARE NOW LUXERIES!!!
      AND ABOUT WATER…..ABLP PROMISED TO FIX IT IN 14 DAYS…..UPP WAS IN POWER FOR 10 YEARS….HOW DO YOU EXPECT THEM TO SOLVE A PROBLEM, 28 YEARS IN THE MAKING???

      UNREASONABLE USEFUL IDIOT.
      AND ABOUT EDUCATION, BALDWIN HAS GIVEN THIS COUNTRY 3 TIMES THE AMOUNT OF SCHOLARSHIPS GASTON HAS, SO WHEEL AND COME AGAIN IDIOT.

  3. Me a go sue,eeeeeee. King sue is on a mission to file lawsuits against all and sundry.Me a go sue,eeeee.

  4. Of course Harold is the better alternative. Simple question: What happen to Swiss American Bank when Gaston was there,
    Answer that simple question

  5. @ OMG this a response to you,

    While in opposition GB ran a supermarket in Jennings that failed.

    In the meantime, FORBES Magazine June 2, 2014 under the heading:
    ” These Middle Income Countries Are POISED To Become RICH”

    Antigua name right up DEY alongside Brazil, Costa Rica, Botswana etc.
    Harold LOVELL was Minister of Finance

    TEK DAT

  6. @Jarvis: Google that Bank and read for yourself the Bobol that permeated there.While there look for Global Bank of Commerce and see who were the players.

  7. @Sam’s Sister
    He may be bad, but he does have some good in him. Give him a break. I do agree with him in this instance. Rowley agreed to pay and he didn’t. If he doesn’t pay up sue his behind.

Comments are closed.