COURT ACTION WILL keep the island’s lone state-owned oil terminal from being immediately sold to the Caribbean’s biggest petroleum company, SOL.
Yesterday Justice Olson Alleyne extended an injunction initiated by rival oil company Rubis West Indies Ltd barring the $100 million sale of Barbados National Terminal Company Ltd (BNTCL) to Sol. The injunction has been in place since March 25 even as the regulatory agency, the Fair Trading Commission (FTC), seeks to review the pending transaction.
Queen’s Counsel Leslie Haynes, who is representing Rubis, said that while the FTC decision has not been given, to delay the action might be too late.
When the matter went before the No. 11 Supreme Court, the judge allowed the court order to remain “with the consent of all parties” involved until May 26 while the substantive lawsuit by Rubis West Indies is set for hearing on Monday. (TKS)
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