Media Release: Freezing Order against SIS Remains in Effect
– 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.