Express Business Filler #1

THE National Energy Vehicle Infrastructure Corporation of Trinidad and Tobago (NEVICOTT) has failed in its attempt to prevent CL Financial (CLF) from disposing of Methanol Holdings (Trinidad) Ltd and Holiday Inn at Trincity as part of its liquidation process.

NEVICOTT has also been denied an application to have CL Financial release its audited financial statements for the period 2017 to 2019. It had filed an application at the High Court for injunctive relief, seeking an order from the court to stay the sale of both Methanol Holdings and Holiday Inn.

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Local astronomer and microbiologist Dr Shirin Haque is among the 2020 lau­re­ates in the An­tho­ny N Sab­ga Caribbean Awards for Ex­cel­lence. Haque was selected for the award in the field of Science and Technology.

REPUBLIC Financial Holdings Ltd has agreed to pay the Scotiabank US$120 million to acquire 100 per cent of the Canadian bank’s operations in the British Virgin Islands.

HIGH COURT Justice Kevin Ramcharan, in September 2019, aborted an attempt by CL Financial subsidiary, Home Construction Ltd (HCL), to sell two highly coveted pieces of prime commercial real estate, following an objection to the lack of transparency and the failure to properly advertise the properties in the initial sales process by one of CL Financial’s joint liquidators, David Holukoff of the accounting firm, Grant Thornton.

SAN FERNANDO businessman Idrees Omardeen, who is known in the city for his accountacy school and banquet hall, has ventured into a something completely different.

Given the celebratory mood of the OWTU, the desk pounding in the Parliament when the announcement was made and the Prime Ministers description of the arrangement as a “beacon of hope”, it can be reasonably assumed that the Pointe-a-Pierre (PAP) refinery and Paria Fuel Trading will soon be under the control of the OWTU’s Patriotic Energies. 

YARA Trinidad the recent announcement to close one of their three ammonia plants by year end is a matter of great concern. This will be the fifth major industrial plant to close its doors in recent times.