Insolvency / Winding Up Proceedings were commenced against Mora Oil Ventures Limited by A.P.I Pipeline Construction Company Limited (“API”) on the 2nd February, 2024, arising out of sums owed via Judgment Debt to that company which were not otherwise paid to it. API claimed that the sum of, inter alia, $2,200,000.00 remained due and owing by Mora Oil Ventures Limited.
By Notice published in the Trinidad and Tobago Gazette on the 11th April, 2024, the Court invited other judgment creditors to be heard at the hearing of API’s Petition to Wind Up Mora Oil Ventures Limited.
On the 17th April, 2024, Maritime Preservation Limited, represented by our firm, intervened and joined the said proceedings as being a judgment creditor, having obtained judgment against Mora Oil Ventures Limited for the sum of, inter alia, $6,600,000.00, by Judgment dated the 7th December, 2023.
Another company, Parad Engineering Services Limited, also intervened in the said proceedings, as claiming the sum of $3,000,000.00 being owed to it.
The Honourable Madam Justice Nadia Kangaloo granted the said Petition on the said 17th April, 2024, and gave directions to the parties to settle the terms of the Winding Up Order and the appointment of a Liquidator. These proceedings remain ongoing before the High Court.
Maritime Preservation Limited is represented by Shiv Sharma, Asif Hosein-Shah and Nyree Alfonso.
Useful Links:
- Article intituled “Construction company moves to wind up energy firm” published by the Guardian Media Newsroom on the 19th April, 2024.
