Monday, 16 July 2018 18:28

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

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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.

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