![\"\"](\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2021\/07\/BACOL.jpg\")
<\/p>\n<\/p>\n
<\/p>\n
The lawsuit brought by British American Insurance Company Limited and Colonial Life Insurance Company Limited Policy Holders Group (BACOL) for fair and equitable compensation against the Government of the Republic of Trinidad and Tobago, has commenced in earnest. The Origination Application, setting out the substantive case by the BAICO policyholders will be filed on October 18th<\/sup>, 2021. The pathway to such a filing was cleared by order of the Caribbean Court of Justice (CCJ) issued on October 11th<\/sup>, 2021, after the State of Trinidad and Tobago withdrew its objections to the Application for Special Leave, which were originally made at the October 6th<\/sup>, 2021 Case Management Conference.<\/p>\n This development means that BACOL\u2019s Legal Team can proceed to file the claim with the CCJ in its Original Jurisdiction, and present the case before the Court, that its members (policyholders of British American Insurance Company Limited) are entitled to restitution, on par with that paid to British American Policyholders who are Trinidad and Tobago nationals.<\/p>\n <\/p>\n Legal Background to Date:<\/strong><\/p>\n At the Case Management Conference at the Caribbean Court of Justice on the 6th<\/sup>\u00a0October 2021, the Respondent State of Trinidad and Tobago indicated its intention to challenge the application for the grant of Special Leave by the CCJ, thereby making it necessary for a hearing to determine the matter. At the 6th<\/sup> October, CMC the CCJ set 18th<\/sup>January, 2022 as the date for oral presentation of arguments by both Parties, for the Hearing for Special Leave. Prior to that date, though, both Parties were ordered to make written submissions to the Court on 5th<\/sup> November\u00a0(GORTT), and 3rd<\/sup> December (BACOL).<\/p>\n In turn of events, on 8th<\/sup>\u00a0October 2021, the Respondent State of Trinidad and Tobago indicated to the CCJ, its decision not to pursue its objections to the Application for Special Leave by the BAICO Policyholders. Subsequently, by order dated 11th<\/sup>\u00a0October 2021, having regard to the position of the Respondent, and noting that the Applicants have satisfied the requirements for the grant of Special Leave the CCJ ordered that:<\/p>\n In summary, what this means is that the State of Trinidad and Tobago no longer objects to the grant of Special Leave; the CCJ agreed that the requirements for BAICO policyholders to obtain Special Leave have been satisfied and have accordingly, granted Special Leave and that the Applicants are ordered to file their claim.<\/p>\n The legal team on behalf of the Claimant BAICO Policyholders are on schedule to file the Originating Application by the 18th<\/sup>October, 2021 as ordered by the CCJ, thereby substantively commencing the claim aimed at achieving financial justice for BAICO\u2019s Policyholders.<\/p>\n <\/p>\n The Case for Fair, Equitable Compensation<\/strong><\/p>\n In the twelve (12) years since the collapse of British American Insurance Company, Policyholders in the Eastern Caribbean States (OECS) of Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Lucia, St. Kitts and Nevis, and St. Vincent and the Grenadines, have been denied the return of their full investment made into the various BAICO Agencies in the Eastern Caribbean, and that these funds were \u2018treated\u2019 by the Parent entity and related Parties in Trinidad and Tobago.<\/p>\n While their counterparts in Trinidad and Tobago have had substantially most of their investments returned to them,\u00a0 OECS Policyholders have so far received only fourteen (14) cents on the dollar (14%), with rapidly vanishing hope of benefiting from the recovery of any further part of their initial investment.<\/p>\n This inequity has severely impacted the lives of thousands of Policyholders and their families across the Caribbean, many of whom have lost substantially all their savings, retirement and pension benefits, etc., leading to immeasurable hardships and many lamentable and woeful outcomes, all with devastating impacts on their quality of life.<\/p>\n The manner via which some Policyholders were compensated with the return of their investments and others not so, have been linked to the following abject realities for Policyholders who purchased their BAICO Polices in the OECS, which includes OECS nationals in the Caribbean, and in the Diaspora Countries of Europe and North America. The harsh realities for these affected CARICOM nationals, with connections to the Eastern Caribbean States include:<\/p>\n Every British American policyholder in the OECS who has suffered the loss of their savings and investment has a painful story of woe to tell \u2013\u2013 about the impact of not benefitting from the return of their finances with British American. Oftentimes, these stories are told by the survivors of the original Policyholders, who recall their deathbed requests for them \u2018to keep fighting to get the money back\u2019; At other times, Policyholders\u2019 frustration finds colourful expression,\u00a0 for \u2018their stupidity in believing in CARICOM\u2019 and for early rhetoric about this being a \u2018Regional Problem, requiring a regional Solution\u2019. In reality, it is the thousands of ordinary, CARICOM Nationals who have borne the brunt of the broken commitments and a \u2018moving of the regional \u2018goal post\u2019 from an \u2018all inclusive\u2019 CARICOM arrangement, to an \u2018exclusive\u2019 CARICOM, wherein the spoils are to be aggrandised by the jurisdiction where the assets are domiciled.<\/p>\n BACOL, the coordinating institution that dared to belie such an enormous exercise of injustice deserved challenge, is rooted in its fundamental belief in the ideal of a Single CARICOM.\u00a0 According to Mr. Hugh Dolland, a BACOL Board member, a victory for British American Policy holders is a victory for all of CARICOM \u2013 as equality of treatment is justice for everyone.<\/p>\n BACOL believes in and is firmly committed to obtaining Justice for all its members. As an organisation founded in the belief that every Caribbean citizen is equal before the Law and deserving of Justice at all times and under all circumstances, we believe firmly that the Caribbean Court of Justice is the right and competent body to make the fit and proper determination in this matter and look forward to the sunshine after over a dozen years of rain.<\/p>\n\n
\n