The High Court of Trinidad and Tobago has continued the freezing order granted on 23 December 2015, on the application of the National Gas Company of Trinidad and Tobago Limited (NGC) over the assets of Super Industrial Services Limited (SIS) up to the value of $180,000,000 TTD until the determination of intended arbitration proceedings between NGC and SIS concerning the Beetham Water Treatment Project.
– June 11, 2016
The High Court of Trinidad and Tobago has continued the freezing order granted on 23 December 2015, on the application of the National Gas Company of Trinidad and Tobago Limited (“NGC”) over the assets of Super Industrial Services Limited (“SIS”) up to the value of TT$180,000,000.00 until the determination of intended arbitration proceedings between NGC and SIS concerning the Beetham Water Treatment Project.
The injunction restraining Rain Forest Resorts Limited (“RFRL”) from disposing of properties mortgaged to it by SIS was also continued.
Additional injunctions were also granted removing Deeds of Release of mortgages of properties owned by SIS which were registered by RFRL in breach of the injunction and against SIS restraining it from in any way dealing with the properties.
SIS and RFRL were ordered to pay NGC’s costs.
These were confirmed in a hearing on 10 June 2016 at the High Court of Trinidad and Tobago. Neither the freezing order, the injunction nor the action have been struck out by the High Court as erroneously reported recently in the media.
The Company respects the rule of law in Trinidad and Tobago and would like to assure the public that it will continue to exercise its best efforts to ensure that the terms and spirit of the Law are observed in the interests of its shareholder, Corporation Sole, and by extension, the people of Trinidad and Tobago.
– June 9, 2016
Contrary to reports appearing in the media, the freezing order granted by the High Court of Trinidad and Tobago on 23 December, 2015 on the application of the National Gas Company of Trinidad and Tobago Limited (“NGC”) over the assets of Super Industrial Services Limited (“SIS”) up to the value of TT$180,000,000.00, remains in effect. The injunction granted by the High Court on 23 December, 2015 restraining Rain Forest Resorts Limited (“RFRL”) from disposing of properties mortgaged to it by SIS also remains in place.
Neither the freezing order, the injunction nor the action have been struck out by the High Court. There is no Court Order to that effect.
This matter is still engaging the attention of the High Court and the next date of hearing is 10 June, 2016. SIS is contending by letter from its attorneys that the matter has come to an end. However there is no merit to this contention and the matter is proceeding before the High Court. While the injunction remains in force it has come to the attention of NGC that RFRL has released the mortgages over the SIS properties which are the subject of the injunction. The High Court will be asked to grant relief in respect of this breach of the Order of the High Court.
NGC reminds the public that by the Order of the High Court dated 23 December, 2015 which continues in force it is a contempt of court for any person or entity notified of the freezing order and injunction knowingly to assist in or permit a breach of the Order of the High Court.
In the interest of ensuring that the correct facts are provided to the public, and in particular to ensure that the public is not misled, The National Gas Company of Trinidad and Tobago Limited (NGC) has been compelled to release the attached statement.