The 11th session of the Clico/Hindu Credit Union commission of inquiry resumes today on a similar note to the one on which it ended last December–a problem getting witnesses to testify.
The last session ended four days before the scheduled date because several scheduled witnesses were out of the country. Today's hearing at the Winsure Building, Richmond Street, Port-of-Spain begins without the evidence of two major players in the Clico debacle, former CL Financial chairman Lawrence Duprey and former group financial director Andre Monteil.
Both men have cited a police probe into the collapse of Clico as the reason for not attending.
Commission chairman Sir Anthony Colman was upset at the premature end of the last session, saying it was unacceptable. "We lost four days of hearing. This is not good," Colman reportedly said.
Jason Julien, financial analyst at the Securities and Exchange Commission, failed to testify at the last session. Colman said it was "astounding" that a public body like the SEC could not find a substitute witness.
In June last year Colman also complained about witnesses not showing up for scheduled hearings.Former CEO of HCU Communications Gawtam Ramnanan, former HCU financial consultant Jameel Ali and Dave Jagpat were held in contempt of the commission for this reason.
The inquiry started in March 2011 and hearings are scheduled to continue until March 8.
