I was hoping to write a post tonight, but I fell behind after writing an article for the Barbados Money Laundering Advisory - Bajan Banks and Insurance Companies Inadequately Supervised

It seems that a local bank may be having problems.

The CLICO Quiz

You must write the full name of the company to get full credit:

  1. Which large Barbados holding company has a bad track record of filing the required financials with the Corporate Registry (CAIPO)?  ___________
  2. The 1993 to 1996, 1999 to 2004 Financial Statements were stamped by CAIPO as having been filed May 08 2006. Name the large holding company ________
  3. Name the auditors for the  company referred to in 2. above. (Hint: two auditing companies were involved) __________ and __________
  4. Who was the high-powered lawyer who sued CAIPO to get a certificate of good standing for a large holding company that was missing a couple years of financial statements? (Hint: 1920 of 2005) ___________
  5. (Extra credit) Who was the judge in this case, and what was his decision? ______
  6. Name two companies that had poor track records of filing with CAIPO, but appear to have the current Government’s approval? _________ and _________
  7. Which administration is responsible for the inadequate supervision of several corporations? (a) BLP (b) DLP (c) both

Answers:

  1. CLICO Holdings (Barbados) Ltd. Company No. 414 is one answer. There are probably many more.
  2. CLICO Holdings (Barbados) Ltd. Company No. 414
  3. Deloitte Touche Tohmatsu International and Pricewaterhouse Coopers
  4. Unknown lawyer - request for court file unsuccessful David Thompson represented CLICO Holdings (Barbados) Ltd. in another lawsuit. It would be most interesting if Thompson was the lawyer representing CLICO in their attempt to avoid having to produce past financals.
  5. Unknown
  6. The Barbados Turf Club, Company No. 2940 and CLICO Holdings (Barbados) Ltd. Company No. 414
  7. (c) Both the BLP and the DLP allowed many companies to operate without filing the required documents.