SP-Oil blocked

Country’s fuel distributor barred from suing former chairman for $2M fuel debt

By Alfred Sasako

SOUTH Pacific Oil – a subsidiary of the Solomon Islands National Provident Fund (SINPF) – was reportedly “blocked” from suing its former chairman and interim Kadere Party President, Peter Boyers, it was revealed yesterday.

The action was said to be over a $2 million fuel debt Mr Boyers allegedly incurred while he was chairman of SP Oil Ltd, Island Sun was told yesterday.

It was alleged that Boyers had borrowed heavily in fuel supplies to enable him to run his once-lucrative shipping operations, which have since gone belly-up with the financier, Credit Corporation, having withdrawn its credit line.

Boyers relinquished the chairmanship of SP Oil around the end of 2016.

Sources told Island Sun yesterday that SP Oil Ltd was in the process of suing Mr Boyers after he relinquished the Chairmanship but the action was “blocked.” Island Sun could not independently verify the alleged court action.

Island Sun was also unable to verify who might be responsible for blocking the alleged court action. If true, it suggests that Boyers’ appointments as Chairman of a number of State-Owned Enterprises (SOEs) were all part of a network within the government system.

The former finance minister was once the Chairman of the Investment Corporation of Solomon Islands (ICSI), Chairman of SP Oil Ltd and Chairman of the Solomon Islands National Provident Fund (SINPF).

It would appear the appointing Minister had never bothered to check the bona fides of the Kadere Party’s interim president. If he had, he would have discovered that the interim President of Kadere Party had a string of failed businesses, which would have disqualified him from holding any chairmanships or directorships of any public company.

It is now up to Prime Minister Ricky Houenipwela in consultation with his Deputy and Minister for Finance and Treasury, Manasseh Sogavare to decide whether Mr Boyers should continue as chairman of SINPF.

Boyers is seeking the renewal of his appointment as the SI DCC Government’s Traditional Governance Consultant, a position he held for three years during the DCC government’s tenure without producing a single report, according to the Office of the Prime Minister.

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