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[Barbados] Injunction blocking BNTCL sale remains in place

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[Barbados] Injunction blocking BNTCL sale remains in place

Unread post by bimjim » Thu Mar 30, 2017

http://www.nationnews.com/nationnews/ne ... ol-remains

[Barbados] Injunction blocking BNTCL sale remains in place
30 March 2017

A SIX-DAY-OLD injunction blocking the sale of Barbados National Terminal Company Limited to Sol will stay in effect. Justice Olson Alleyne 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.

Queen’s Counsel Leslie Haynes who is representing Rubis which is attempting to hinder the sale based on a particular clause in the sale agreement spoke with journalists after emerging from court, saying the session was a matter of filing affidavits.

Barry Gale, QC appearing for BNTCL Holdings, the third defendant, in giving the history of the matter said the company was served with court documents on March 27 and the injunction was obtained without notice two days earlier.

"All three defendants need now to get instructions to prepare affidavits and to respond to their (Rubis) affidavits so that we have our evidence in court," he said.

The Attorney General, the government chief legal advisor, is listed as the first defendant and represented by Deputy Solicitor General Donna Braithwaite QC while Roger Forde QC appeared on behalf of the second defendant, Barbados National Oil Company Limited, owners of BNTCL.

On March 24 Rubis filed for a judicial review of the approval to include a 15- year moratorium clause in the Sale and Purchase Agreement between a SOL Subsidiary and BNOC.

The clause, said a press release from Rubis, would grant to the purchaser a moratorium on the construction of any new fuel terminal facilities and a moratorium on the granting of licences for storing gasoline, diesel or fuel oil and aviation or jet fuels used for industrial and commercial purposes in Barbados, outside of those from the Energy Division or other state authorities.

“Rubis has been advised by its legal counsel that such a moratorium should not be granted as it would constitute an illegal restriction of the right which the Minister of Energy has been granted by law to decide on such matters.

“With this application, Rubis also applied for an urgent interim injunction to restrain the parties to the proposed merger agreement from including such a clause therein, should the FTC approve the sale of BNTCL as submitted,” the press release stated.

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