By Eddie Osifelo
ORION Limited is reportedly set to sue the Solomon Forest Association (SFA) over loss of business.
It is understood the lawsuit will be for $403,011,350.20 (USD50,674,441.50).
Report reaching this paper says Orion has satisfied its legal team with all the facts and can commence compliance procedures and preparation for the legal battle against SFA.
SFA de-registered Orion Ltd in March 2017 due to alleged non-active status and also no machinery as required by the act.
As a result, Orion Ltd stopped carrying out logging operation and exporting in compliance with Legal Notice 114.
Under Legal Notice 114 of 2007, only members of SFA are allowed to hold felling licences and to export round logs out of Solomon Islands.
This is to combat illegal logging practices and to ensure the monitoring of active logging companies in Solomon Islands.
Managing Director of Orion Ltd, Chan Chee Min said they shall see and hear all the truth in the days to come.
In the meantime, SFA held an Extraordinary General Meeting on Friday, March 19.
Sources told the paper that SFA members discussed the issue raised by Orion Ltd in the media against them.