An investigation has been launched into the failed attempted sale of the Barbados National Terminal Company Ltd (BNTCL) to Simpson Oil Limited (SOL). This has been confirmed by Attorney General Dale Marshall.
“The Barbados National Oil Company Ltd (BNOCL) has engaged attorneys to look into the matter of what appears to them to be excessive invoicing in relation to the transaction over the sale of their subsidiary, the Barbados National Terminal Co. Ltd., for the amount of work done by the attorney,” said Marshall.
“They are particularly concerned that between November 24, 2017 – four days before the Fair Trading Commission (FTC) halted the sale – and two days before the May 24 General Election, the attorney sent invoices for [BDS$2.5 million in] legal fees.”
Though the Attorney General declined to discuss the matter in detail as litigation might be pending, he said the attorney had bills for a complete transaction in circumstances where that transaction appeared not to have been completed. (SP)
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