Former Central Bank governor Dr Alvin Hilaire has confirmed that he will initiate legal proceedings against the State for the unlawful revocation of his appointment in June this year.

According to reports, attorneys representing Hilaire dispatched a pre-action protocol letter to the Cabinet secretary and the Attorney General yesterday, August 19, following the breakdown of out-of-court settlement discussions.

The pre-action protocol letter includes a demand for damages totalling $9.86 million. The compensation is being sought after due to alleged breach of constitutional rights, emotional distress and loss of earnings for the unexpired term of his appointment.

In a statement issued yesterday, Hilaire confirmed that his legal team comprises Stuart Young, SC, and attorneys Imran Ali and Anthony Bullock.

The letter outlines for the first time that Hilaire’s appointment as Governor was revoked pursuant to section 12 (e) of the Central Bank Act (that is that he was guilty of misconduct in relation to his duties) and section 12 (g) of the Act (that he failed to carry out of the duties and functions conferred or imposed on him under the Central Bank Act).

Hilaire served as Governor of the Central Bank of T&T from December 2015 to June 2025.