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FINSAC ruling Friday

Published:Wednesday | February 10, 2010 | 12:00 AM

Barbara Gayle, Staff Reporter

Supreme Court judge Ingrid Mangatal is to make a ruling Friday on an application brought by three claimants to halt the commission of enquiry into the collapse of the financial sector in the 1990s.

The claimants are former Finance Minister Dr Omar Davies, former Financial Secretary Shirley Tyndall, and the Jamaican Redevelopment Foundation, which bought bad debt from the Financial Sector Adjustment Company (FINSAC).

They are also seeking leave to apply to the Judicial Review Court for orders to stop the enquiry. In the meantime, they want a temporary stay until the court hears the issue.

The claimants are seeking to bar retired Court of Appeal judge Boyd Carey, who is the chairman of the commission of enquiry, from continuing to sit because of an alleged bad debt with FINSAC. It is further alleged that he was a member of a family business, Bev Carey and Associates, which also had a debt with FINSAC.

No representation

Some weeks ago, Carey issued a statement denying that he had a debt with FINSAC.

Carey and the other members of the commission are the defendants, but they were not represented at the hearing in chambers last Friday or yesterday.

Deputy Solicitor General Lackston Robinson had applied for an adjournment on Friday because the defendants were not served. Robinson said the attorney general wanted to be heard in the matter.

The judge said she would start to hear the application on Friday afternoon because it was a matter of urgency, but would adjourn until Tuesday to give the claimants time to serve the defendants.

Robinson applied for permission to withdraw after his application for an adjournment was denied.