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Letter: NALGICO claimants
Published on May 10, 2014 Email To Friend    Print Version

Dear Sir:

Now that Mr David Phillip, the former director, majority shareholder and CEO of NALGICO, a failed insurance company after Hurricane Ivan 2004 is an executive member of the ruling New National Party, maybe Dr Keith Mitchell can use his good office and influence as political leader of that party, to convince Mr David Phillip to meet the post Ivan debt of NALGICO owed to victims of Hurricane Ivan, who are still owed by that company for unsettled claims.

It should be especially easy for you, Dr Mitchell, having made a decision to pay Cap Bank depositors, on humanitarian and moral grounds, to convince Mr David Phillip to do the right thing and commit to paying his debt in the shortest possible time, given the financial crisis of some claimants.

By the way, Dr Mitchell, your trusted Permanent Secretary Finance, and now capable Mr Timmy Antoine, was the Supervisor of Insurance when NALGICO was allowed to take customers’ premiums without being prudently run as an insurance company, the more reason to use your good influence to get Mr Phillip to meet his debt -- if only on humanitarian and moral grounds.

My claim is $273,296.41, plus interest, dating back to 2004.

Brian Pitt
Survivor of Hurricane Ivan 2004
Victim of NALGICO’s collapse
 
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Comments:

Grenadianclass:

Crooks , con men and fraud stars ALWAYS get rescued by the NNP. Birds of a feather flock together. .There re so many questionable individuals associated with the NNP it's not funny. From the leadership down to the poorest of supporters there is certain trait in the supporters of the NNP. Mr Phillip found refuge where he feels comfortable. D BUG is a NNP . Phillip is a NNP . Who will be the next allege con man from the NNP.

Mitchell indicated today that the depositors in Cap Bank lost their monies because of poor oversight. Poor oversight by who? Mitchell was the prime minister and leader who allowed Cap Bank to operate outside the ECCB? Mitchell must be held responsible for the debacle of Cap Bank. He should be personally held accountable especially for taking taxpayers monies and doing what he very well like with it. This is ridiculous and illegal.

grenadianclass:

Brian Pitt I believe that you plea would have been much more effective if you did pose some hard questions to the prime minster on this issue when he was a guest on the program Beyond The Headlines on GDN.

It amazes me how brilliant and intelligent minds are intimidated by the prime minister. Its really unfortunate. Its like folks feel if they thread to hard the Prime Minister will denied them a heart and so they will just die. Its a really sad state of affairs in Grenada. Tillman Thomas gave grenadians the opportunity to speak freely , today they are cowards. Brian next time the PM in on your program question him directly on the issue and let the public air their views on the situation also. Dont be a coward. Stand up and be counted.

Fred Salfarlie:

It is quite shameful that the former director and CEO of NALGICO is allowed such a lofty position within any political party after he, in my opinion, had been negligent in not purchasing adequate reinsurance protection to enable large losses such as Hurricane Ivan to be paid to policy holders.

I am however not surprised, seeing that the regulatory authority at the time, the supervisor of insurance was, again in my opinion, also negligent in not ensuring that NAGLICO adhered to the rules and regulations of running an insurance company in Grenada - I understand that returns had not been submitted by NALGICO to the regulator for several years.

I am not politically motivated, but many of NALGICO's policy holders have suffered severe financial loss because of mismanagement by its management head - why is he now part of NNP's management team ?

Keep up the good work Mr Pitt


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