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High Court Judge halts Clico wind up
High Court Judge FRANKLIN HOLDER yesterday ordered that all proceedings in the winding-up of Clico Life and General Insurance Company be stayed until the hearing and determination of a constitutional Writ filed by the Insurance Company.
As a result of the ruling, Chief Justice, Ian Chang is barred from further hearing the Petition to have Clico wounded up until the Constitutional Writ is heard by the High Court, lawyers for the insurance company said.
In the Constitutional Writ, Clico is seeking a number of declarations, including that there was the denial of a fair hearing and that the filing of the Petition was contrary to law.
Additionally, Clico believes that the Constitutional rights guaranteed under the constitution of Guyana would continue to be breached while being determined to being insolvent.
Justice Holder heard arguments by attorneys Roysdale A. Forde, for Clico, and Senior Counsel Mr. Ashton Chase represented the Attorney General, the Judicial Manager and the Bank of Guyana.
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