Duprey ordered to pay US$139m for bad Clico Energy deal searchlight.vc - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from searchlight.vc Daily Mail and Mail on Sunday newspapers.
Port of Spain, Trinidad – The former executive chairman of CL Financial (CLF) and CLICO director, Lawrence Duprey, has been ordered by the High Court to reimburse more than US$139 million to the companies for facilitating a deal to sell shares in what was then called CLICO Energy to Proman Holdings (Barbados) Ltd in February 2009. The order was handed down on Friday by Justice Devindra Rampersad in the multi-million-dollar claim …
FORMER CL Financial jefe Lawrence Duprey has been ordered to pay the conglomerate, on trust, US$139,416,295, which represents the proceeds of a deal he cut in 2009 with Proman Holdings (Barbados) Ltd for shares of the group’s crown jewel, Clico Energy. Justice Devindra Rampersad made the order on Friday. In September 2021, Rampersad reserved the
A transaction between Proman Holdings (Barbados) Ltd and CL Financial jefe Lawrence Duprey for the sale of Clico Energy’s shares - described as the crown jewel of the group - cannot be ratified, attorneys for the conglomerate and its subsidiary, Clico, are contending. In response to Proman’s appeal against a judge’s ruling which voided the
The content originally appeared on: News Americas Now Black Immigrant Daily News The content originally appeared on: Trinidad and Tobago Newsday News Lawren .