Wife of murdered businessman wins $200M judgment against CLICO

[www.inewsguyana.com] – The wife of murdered businessman, Mohamed Farouk Kalamadeen won a $200M judgment against CLICO Life and General Insurance on Monday, November 3.

The decision was handed down by Justice Rishi Persaud. Kalamadeen, who owned Jiffi Lubes, was abducted and murdered in April 2008. His decapitated body was found in Cowan Street, Kingston, while his head was subsequently found floating in the North Road Canal near his business place.

According to a media release issued by the Attorney for Nariman Kalamadeen, Sase Gunraj, at the time of his death, Mohamed Farouk Kalamadeen held a life insurance policy with CLICO Life and General Insurance Co. (S.A.) Ltd, and the company refused, without explanation, to honour a claim made by the Estate of Kalamadeen, despite all the requirements of the company being complied with.

CLICO was represented by Ashton Chase S.C. It was noted that several witnesses, including a representative of CLICO (Trinidad) and former CEO, Mrs. Geeta Singh-Knight testified on behalf of the Defendant, CLICO.

According to the release, the Judge found that the evidence led by CLICO fell short of establishing material non-disclosure and fraud, as was alleged; there was no proof of materiality; the issue of non-disclosure on the part of the deceased was not pleaded by the Defendant; the Defendant never rescinded the policy or returned premiums, but instead affirmed same.

“As a consequence, judgment was granted to the Plaintiff in the sum of $200,000,000 (two hundred million dollars) with costs in the sum of $500,187.50 (five hundred thousand, one hundred and eighty seven dollars and fifty cents.) Upon an application by the Defendant, the execution of the judgment was stayed for 4 (four) weeks,” the release noted.