HEAD of the Presidential Secretariat, Dr. Roger Luncheon, told reporters at a recent post-Cabinet press conference that Guyana has little control over a number of legal matters in connection with CLICO Guyana, two of those matters being respectively in The Bahamas and Trinidad and Tobago.

“Important proportions of our $5B are locked up in the successful conclusion of those two legal matters,” Dr. Luncheon said. “We are optimistic. I believe these cases will be resolved in our favour,” he remarked, adding that, on the positive side, progress had been made insofar as the smaller contributors are concerned.

For instance, the liquidation of CLICO has provided assets that allowed for the discharge of the indebtedness to thousands of the smaller investors in CLICO, Dr. Luncheon pointed out.

(Telesha Ramnarine)