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CLF shareholders’ agreement extended

Published: 
Saturday, December 28, 2013

Acting Minister of Finance Vasant Bharath yesterday signed off on a further six-month extension of the CL Financial Shareholders’ Agreement which was due to expire on December 31. The agreement was originally signed in June 2009 for three years and it has been extended since June 2012. Minister of Finance Larry Howai is out of the country.

 

At the signing, Bharath said the Government and CL Financial “have made good progress in arriving at a further, longer term shareholders’ agreement, and will continue discussions on the matter during the extension period.” Bharath, whose substantive Cabinet post is as Minister of Trade, said that the parties expect that within the current six-month extension, “there will be resolution of the ongoing arbitration matter involving Clico, CLF and Methanol Holdings Trinidad Limited, which is the single largest outstanding issue in this matter.”

 

According to the minister, both parties anticipate that this matter will be resolved within the six-month period of the extension.

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