A High Court judge has reversed CL Financial (CLF)'s sale of one of its subsidiary, Clico Energy, assets to Proman Holding (Barbados) Ltd, three days after the government bailed out the cash-strapped financial giant in early 2009. In a decision on Thursday, Justice Devindra Rampersad ordered Proman Holding to return CLF and Clico's 51 per cent stake in Process Energy (Trinidad) Ltd (PETL), which operated as Clico Energy Company Ltd before Proman bought out both companies' shares for approximately US$46 […]
