Group Investor action granted special leave in Caribbean Court of Justice.

Aggrieved policyholders, investors and beneficiaries of the collapsed British American Insurance Company have been granted special leave to bring a claim against the Republic of Trinidad and Tobago, in the original jurisdiction of the Caribbean Court of Justice.

The lawsuit, the first large group action in the CCJ, aims to secure compensation for BAICO policyholders in island nations of the Caribbean Community (CARICOM) by enforcing their treaty rights under the CARICOM Treaty. The policyholders claim that the government of Trinidad and Tobago, which came to the rescue of policyholders in the Trinidadian arm of BAICO, discriminated against them on the ground of nationality.

Read the latest press release here.