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A DECADE-OLD lawsuit against the late CL Financial chief Lawrence Duprey and five others has commenced before a High Court judge.

The lawsuit, brought by the Central Bank and Colonial Life Insurance Company (Clico) against Duprey and the others, began before Justice Robin Mohammed at the Waterfront Judicial Centre, Port of Spain.

Civil proceedings were filed against Duprey, Andre Monteil, CL Financial, Dalco Capital Management and Stone Street Capital Ltd – companies with which both men were affiliated – as well as Gita Sakal, a former CL Financial corporate secretary. The claims arise out of the failure of Clico, which led the Central Bank to exercise its emergency powers under section 44D of the Central Bank Act in relation to the insurance giant.