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The Central Bank and Clico’s management have withdrawn a 15-year-old civil lawsuit arising out of the collapse of the former insurance giant, as part of a broader winding-down of major litigation linked to the CL Financial (CLF) collapse.

Attorneys for the CBTT and Clico first conveyed the proposal to lawyers for the estate of Clico’s late former chairman, Lawrence Duprey; his company, Dalco Capital Management Ltd; former CLF executive, Andre Monteil; and his company, Stone Street Capital, as well as former CLF corporate secretary, Gita Sakal, last week.

At a hearing on January 26, they confirmed the position with the judge presiding over the lawsuit.