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Con­sul­tant Ed­i­tor In­ves­ti­ga­tions

It’s been al­most 17 years since the Colo­nial Life In­sur­ance Com­pa­ny (Cli­co) ran in­to a liq­uid­i­ty cri­sis and its chair­man, Lawrence Duprey, went cap-in-hand to the gov­ern­ment for a bailout, which even­tu­al­ly led to the dis­man­tling of the coun­try’s largest con­glom­er­ate, CL Fi­nan­cial (CLF), the par­ent of the in­sur­ance com­pa­ny.

In that pe­ri­od, while ad­min­is­tra­tions and pri­or­i­ties changed, bil­lions were spent on the bailout, the group has re­paid bil­lions, and it has cost tax­pay­ers hun­dreds of mil­lions in fees to lawyers, au­di­tors and liq­uida­tors to re­solve the com­pa­ny’s com­plex­i­ties.