Grimacing in pain, Gloria Nicome broke down in tears yesterday as she related her daily ordeal of toting a 160-pound tumour growing on her back, buttocks, hips and legs for several years.
You are here
BWIA judgment today
Peter Permell, co-ordinator of the BWIA minority shareholders group says he is expecting a fairly large turn out today, at the groups’ second hearing action law suit which would be held before the Honourable Justice Mr Sebastian Ventor at the High Court of Justice, Port-of-Spin at 9.30 am. According to a statement issued yesterday, the law suit was brought against the Minister of Finance pursuant to By-law 26 of the Securities Industry (Take over) 2005. “This action became necessary after minority shareholders rejected the Government’s June 1 2009-20 cents per share takeover bid for their shares,” it said.
Thus, the shareholders served notice that they wished to have the fair value of their shares fixed by the court. However, the Government subsequently failed and/or refused to make the necessary application to the court within the prescribed 90-day period in flagrant disregard of their rights as minority shareholders and the Government’s responsibility as 97 per cent majority shareholder under the legislation, the statement noted. Therefore the shareholders are seeking to inter alia the following relief including an order fixing the fair value of the shares of BWIA and directing the Government to buy out their minority shareholdings at such fair value.
User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.
Guardian Media Limited accepts no liability and will not be held accountable for user comments.
Guardian Media Limited reserves the right to remove, to edit or to censor any comments.
Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.
User profiles registered through fake social media accounts may be deleted without notice.