Carey to know fate as FINSAC Commissioner

Two crucial court rulings are scheduled to be handed down on Thursday which will determine the future of the FINSAC Commission of Enquiry.

The Full Court is to rule whether retired Jurist, Justice Boyd Carey, is to continue as Chairman of the Commission looking into the operations of the Financial Sector Adjustment Company (FINSAC) during the financial sector meltdown of the 90s.

The panel, which reserved judgement last month, is to also decide whether to scrap the current Commission and order the appointment of a new body.

A group headed by Dr Omar Davies, former Finance Minister, had objected to Justice Carey chairing the Commission. 

The group also objected to the appointment of Charles Ross, as a Commissioner and attorney RNA Henriques, as legal advisor.

The group, which also includes former Shirley Tyndall, Financial Secretary; the Jamaican Redevelopment Foundation (JRF) and Patrick Hylton, former FINSAC Managing Director accused Justice Carey of being a FINSAC debtor. 

They argued that this makes him unfit to adjudicate, in the enquiry which was set up to investigate the 1990's financial meltdown, and whether FINSAC treated the debtors fairly. 

Another accusation is that Justice Carey's wife was also a FINSAC debtor. 

They further argued that Mr. Ross was critical of the Government's handling of the crisis and has already formed an opinion on the matter.     

And according to them Mr. Henriques was a director in a company that was taken over by FINSAC. 

Justice Carey has denied the claims and his lawyers argued that the claims were an attack on his character.