Facebook
Monday, 16 July 2018 18:28

High Court Grants Injunction To Freeze SIS' Million-Dollar Assets

Written by
Rate this item
(0 votes)

The High Court has granted the National Gas Company (NGC) an interim injunction freezing the assets of Super Industrial Services Limited up to a value of TT$180 million.

This is pending the hearing and determination of NGC's application for relief from sanctions.

The application follows the Privy Council's decision against the NGC acknowledging that the result of the Rule in NGC's circumstances was "both unexpected and, in the broad scheme of things, undeserved."

To date, there has been no determination of the substantive merits of NGC's claims against SIS and Rain Forest Resorts Limited (RFRL).

The Privy Council's ruling does not affect the arbitration proceedings commenced by NGC against SIS, and NGC continues to pursue its claim seeking to recover over TT$400 million from SIS after it failed to complete the Beetham Water Recycling Plant.

Read 262 times
  • C SPORTS
  • C SPECIALS
  • Press Releases
W/Connection defeated Central FC by six goals to one at the Ato Boldon Stadium.   In the day's other
Defence Force shrugged off a determined Petro Jazz outfit to win 69-66 in Pleasantville on Friday evening. 
Monster won the 2018 Great Race in a time of 55 minutes. The crew shaved off 3 minutes from the previous record. 
For the first time in a very long time, the Trinidad and Tobago Great Race will have a foreign competitor in the form
If you ask anyone in the local power boat fraternity which boat and captain they respect the most over the years, one
President of the National Association of Athletics Administrators, Ephraim Serrette, says the performances of our Track
  • 1
  • 2
bottom
Top