Browne still wrong on CLF fees

At the post-Cabinet news conference at the Diplomatic Centre in St Ann’s on Thursday, Imbert said those fees were in the order of $250 million and not $3 billion.

Imbert said Browne’s latest unsubstantiated claim was that the $3 billion figure was contained in the Government’s affidavits in its application to the court to appoint provisional liquidators for CLF.

“This latest statement on his part is again untrue since nowhere in the Government’s affidavits is any such figure mentioned,” he said. Imbert indicated that the cost of professional fees for the Clico/CLF bailout was not quantified in any affidavit of the Government.

Imbert said it was inexcusable that, having been called out for making a false and reckless claim on this matter, Browne continued with his $3 billion misrepresentation.

On Thursday, Imbert said the liquidators would be investigating the true value of CLF and the leakage of some $1.1 billion from CL World Brands that was apparently used to settle debts owed by companies within the conglomerate.