CCJ Dismisses $800 Million Claim by BAICO Policyholders Against Trinidad and Tobago Government
Antigua Newsroom: The Caribbean Court of Justice (CCJ) today dismissed an $800 million claim brought by former policyholders of the failed British American Insurance Company (BAICO) against the government of Trinidad and Tobago.
The claim was filed by policyholders from Antigua and Barbuda and Grenada under the court’s original jurisdiction, which allows it to handle disputes arising from the Revised Treaty of Chaguaramas.
The case centered on allegations that Trinidad and Tobago’s bailout of subsidiaries of CL Financial Limited (CLF), the parent company of BAICO, discriminated against BAICO policyholders outside of Trinidad and Tobago.
After CLF collapsed in 2009, the Trinidad and Tobago government stepped in to rescue its locally registered subsidiaries, including Colonial Life Insurance Company (CLICO) and BAICO’s Trinidad operations, but no relief was extended to policyholders in other CARICOM member states.
Chief Justice Adrian Saunders delivered the court’s judgment, concluding that the actions taken by Trinidad and Tobago to bail out CLF and its subsidiaries were in line with the exceptions provided under Article 32 of the Revised Treaty of Chaguaramas.
The court found that the measures were properly within the state’s exercise of governmental authority and were aimed at mitigating the effects of the collapse on the local economy.
The policyholders claimed that the Trinidad and Tobago government had violated several articles of the Revised Treaty, specifically Articles 36, 37, 38, and 184, which address discrimination and consumer protection. However, the court determined that these claims were not justified, as the government’s actions did not fall within the scope of the treaty’s provisions governing competition policy and consumer protection.
The court also noted that Article 184, which requires member states to provide adequate and effective redress for consumers, cannot be read in isolation from the broader context of competition policy and consumer protection law. The court found that the language used in the treaty did not create a legal obligation for Trinidad and Tobago to compensate BAICO policyholders in other CARICOM member states.
Furthermore, the court ruled that the claimants had not established that they were treated less favorably than similarly situated individuals, nor that any alleged discrimination was based solely on nationality, as required by Article 7 of the treaty.
The CCJ ultimately dismissed the claim and ordered that each party bear its own costs.
Chief Justice Saunders emphasized that the court’s judgment was final and that copies of the judgment would be made available to the parties involved.
WATCH THE FULL JUDGEMENT SUMMARY BELOW:
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who was the Finance Minister in 2009 under the wicked sunshine government?
#UPPmashupAntigua
#NotDemAgain
Because their (the judge panel) money isn’t tied how with BAICO it is easy for them to dismiss. Otherwise they would have ruled differently. On a monthly basis people paid their insurance. I hate corrupt justice systems
Pearl “FOOTS” Quinn is anti-CCJ so she must be ‘happy’
$800,000,000.00 gone aguasa….into the wind it blows. And the Antiguan government at the time just played dead….had no clue how to intervene and mitigate.
Experience matters…we wanted our own final court of appeal….the court decision is final.
Thats caricom for us
…
Boss you just dunce, the law favoured dismissal for the reasons given. People entered a private contract in their own country and because one country protected its citizens I acted badly? Pure dunceness bosss!
That was quick. Wasn’t the judgment just handed down?
I hope Justin Simon WAS NOT part of this legal team.
I will NEVER support the CCJ. Caribbean people will never get no justice from them. Just when I thought I was unfair to them they go and did this sh!te proving I was right about them all the time.
I think that the RESPECTIVE GOVERNMENTS IN THE OECS REGULATORY BODY FAILED and they ought to COMPENSATE THE POLICY HOLDERS.SIMILAR TO THE COUNTRIES WHO PAID THEIR POLICY HOLDERS.
The local government failed you by not regulating that industry and not protecting locals. It is years now and not one government party that was and is in power decided to mitigate the harms that locals suffered/suffering.
You guys have picked your governments, enjoy them, from 2009 until 2024.
I love privy council
@My way…you are obviously making a comment based on emotions and not facts. The sad thing though is that people would believe you.
Why was the Government a part of the lawsuit…we need to if the Government invested in Clico and company.??
They too lost millions of dollars…of the people’s money. That they need to pay back….
Can somebody reveal how much the governmnent invested….?
Wouldn’t be a surprise if Justin Simon aka “Never Ready” had some role to play on the LOSING side.
Was he AG in 2009??
My comments are facts. Show me one administrative/regulatory agency that has competent enforcement powers that is regulating and is able fine financial institutions in Antigua and Barbuda. Financial institutions includes banks, insurance companies, etcetera.
Just so you know, 90% of my cases are administrative/regulatory law. SEC, CFPB, FTC, OCC, etcetera. There are no regulatory body in Antigua and Barbuda, what is there and who is there is equivalent to zero.
There are now credit bureaus in Antigua and Barbuda but there are no laws regulating these bureaus. We call that consumer credit laws, which I have an office for that too. These bureaus are regulated by government administrative agencies.
Name an administrative agency in Antigua I can file a complaint for financial matters and have administrative hearings and win $150,000.00 compensation for damages for a client because a financial institution violated their rights under law or the government agency’s policy.
Name it tenman
Name this agency
Also, you said it is my emotions why I am inaccurately saying no political party from 2009 until 2024 has paid back local Antiguans and Barbudans for their loss, so please please show me all the Antiguans and Barbudans are fully compensated for the breach that have resulted in their harms.
Because if they were fully compensated and it is just my emotions saying they were not, please provide me with such evidence they were fully compensated.
And let me know which government and government regulatory body caused full compensation to be paid
Points are debated on facts not emotions. I await for you to cool down so you can internalize facts.
You not only sound “emotional” but HORMONAL lol 😆 😂 🤣 😅
In Grenada I believe British American is still operating. Is this ciorrect? If this is the case what hapoened to the investments made by Grenadians in Grenada? The Hotel Complex around Gran Anse which was recently sold. What happened to the cash?
Yawl must keep the analogy of LIAT 1974 Ltd in mind.
When LIAT closed in 2020, Barbados paid the severance for its workers. I did not hear the Antiguan government being sued for not doing the same.
Similarly…. because the oil-rich government of Trinidad DECIDED to compensate its local BAICO policy holders does not mean they were obliged to do the same for Caricom policy holders.
All the way to privy council,we as blackies can’t serve right around us.
God bless the Kung.
In today’s financial landscape, we must be vigilant when handing over control of our personal and company finances to institutions, especially those operating outside our jurisdiction—but even within it. This is a cautionary tale about the dangers that can arise when we trust too easily. We live in a dog-eat-dog world, and we need to critically examine the protections in place when it comes to our investments, savings, and personal finances. All too often, these protections are minimal at best.
Banks say, “Trust us.” Insurance companies say, “Trust us.” Lawmakers say, “Trust us.” But history has shown that trusting blindly can lead to devastating outcomes. What happens when companies go under, taking our hard-earned savings and investments with them? We suffer. That is the grim reality we face. Yet, despite this, a few successful marketing campaigns later, the cycle continues. The same institutions that failed us reassure us: “You can trust us. We’ve always been there for you.”
It’s time we stop relying on empty promises and start trusting in our own interests. We must demand stronger protections and take proactive steps to safeguard our financial futures, because in the end, no one will look out for us better than we can ourselves.
All is not LOST.I think a window is still open at the CCJ TO CHALLENGE ARTICLE 7 OF THE REVISED TREATY OF CHAGURAMAS to its ENTIRETY.There is definitely DISCRIMINATION by paying TRINIDADIAN NATIONALS and discriminating POLICY HOLDERS IN THE OECS.The respective OECS GOVERNMENTS and its CITIZENS NEED TO BOYCOTT the IMPORTATION OF GOODS MADE IN TRINIDAD or the TRINIDAD GOVERNMENT SUPPLY FUEL AND NATURAL GAS TO THE AFFECTED OECS ISLANDS UNTIL THE DEBT IS PAID OFF.
There are two ways to skin a CAT. After waiting for over 15 years WE are told that our investment is WORTHLESS the BAIL OUT BY THE GOVERNMENT OF TRINIDAD IS ONLY FOR TRINIDAD POLICY HOLDERS.THEREFORE WE NEED TO BOYCOTT THE IMPORTATION OF GOODS MADE IN TRINIDAD THE MANUFACTURERS WILL LAY OFF WORKERS which will create ECONOMIC unrest.The OECS POLICY HOLDERS WERE RAPED ALL THE MONIES WERE SENT TO TRINIDAD AND BARBADOS TO BUILD THEIR ECONOMIES THEY SUCK THE OECS DRY LEAVING AN OLD BUILDING IN REDCLIFFE STREET ST JOHN’S ANTIGUA.IT IS INTERESTING TO SEE WHAT GB IS GOING TO DO.CARICOM IS DYSFUNCTIONAL.WE ARE SEEKING REPARATION.
GASTON BROWN WILL DO NOTHING HE IS PART OF THE LOOT.look at what he is doing to LIAT1974 LTD telling the STAFF to take the pittance he offered or LEAVE IT.BARBADOS PAID THE FULL SEVERANCE TO THE STAFF BASED IN BARBADOS AND ALSO BAJAN NATIONALS BASED IN ANTIGUA .He has no respect for the people of the OECS.RESPECT IS GIVEN TO THOSE WHO RESPECT THEMSELVES.
I hope the GOVERNMENT OF GUYANA AND GUYANESE citizens support the BOYCOTT of goods made in TRINIDAD ,THEY WERE ABUSED AND DISCRIMINATED by the GOVERNMENT OF TRINIDAD REFERENCE TO THE CLICO/BAICO DEBACLE.
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