SIG given until Friday to settle $32.4M
By EDDIE OSIFELO
LEVERS Solomon Limited (LSL) has given the Government until Friday to comply with its High Court order.
This followed negotiations with the Government officials in Honiara yesterday.
LSL also agreed to delay the repossession of its property at Hell’s Point, east Honiara, until Friday following.
High Court Deputy Chief Justice, Rex Foukona on16th August 2022 made an order for the Government to pay LSL $32.4 million plus interests by yesterday’s deadline.
The company’s Barrister, Geoffrey McDonald told the media the negotiation is friendly and positive.
“We remain hopeful but at 6pm tonight (last night) we are undecided whether to accept the proposal put by SIG,” McDonald said.
“It was not unreasonable but not yet accepted,” he added.
McDonald said SIG agreed they will comply with the High Court order.
“They were very kind to say they will comply with High Court order.
“My thoughts are they should unreservedly comply with a Hight court, it’s not been negotiable, it just happens,” he said.
However, McDonald said the order got several components, including interests and rents.
“His Lordship calculated the interests but didn’t calculate the rents.
“So, there is a number of rents, but there is a calculation of rents,” he said.
“There is a principle, augmented on tax. So, it’s not absolutely clear what is to be done to comply with the order.
“For example, I think interests are $6000 per day, that is another $20,000 by Friday, that is serious money,” he said.
At the negotiations, the LSL representatives were Director Patrick Wong, Alice Willy (lawyer), Geoffrey McDonald, Barrister at law and landowners.
SIG was represented by Ministry of Finance and Treasury Permanent Secretary, Dentana Mckini, Solicitor General, Accountant General, Investment Cooperation of Solomon Islands (ICSI) Director, Tukana Bovoro and Commissioner of Lands, Alan McNeil.
