Presentation of the Commission of Inquiry Report in the Hindu Credit Union Co-operative Society Limited (HCU)


His Excellency Anthony Thomas Aquinas Carmona, ORTT, SC, President of the Republic of Trinidad and Tobago was today presented with the Report on the Commission of Enquiry into the events surrounding the collapse of the Hindu Credit Union Co-operative Society Limited (HCU), which occurred during the period 2008 and 2009 by Sir Anthony Colman, Commissioner of the Enquiry.

This enquiry was initiated by the then President Professor George Maxwell Richards TC, CMT, Ph.D in accordance with Section 2 of the Commissions of Enquiry Act, Chapter 19.01 of the Laws of the Republic of Trinidad and Tobago on November 15, 2010. Sir Anthony in his address prior to the handing over of the Report stated that although his terms of reference indicated the Commission of Enquiry was to also include the collapse of the Clico Companies, due to the magnitude of documents amassed during the process, it was administratively impossible to simultaneously complete a single report on both the Clico Companies and the HCU. He further stated that this would have resulted in a lengthy delay as the part of the report which was completed first would not be presented until the second part was completed.

As such, Sir Anthony decided that it would be in the national interest that as soon as one part of the report was completed it should be presented as a separate report, hence the presentation of the part of the report based on the HCU today July 17, 2014. Although already under way, there is still considerable work to be done on the part of the report which addresses the Clico Companies before it is ready for presentation.

Sir Anthony Colman, the sole appointed Commissioner for this enquiry was assisted by Ms Judith Gonzales, Secretary to the Commission.

Sir Anthony returns to the United Kingdom this afternoon.