Lapses in legal judgements force passage of $800M award
─ past administration declined to honour judgment made in 2015, and the money awarded has been accruing interest at a 6% rate – Min. Jordan
─ case is before CCJ but funds will be held, “without prejudice” until final judgement in June
─ also, “mother of all cases” may result in possible award of as much as $6Billion to the plaintiff
By Paul McAdam
DPI, Guyana, Thursday, May 23, 2019
In what is being described as a first, Finance Minister, Winston Jordan laid before the National Assembly, a request for an “unprecedented amount” of $800M. He explained that the sum resulted from an award, made against the previous government, for DIPCON.
According to the Finance Minister, of the amount requested the sum of approximately $750M will go directly to the Trinidad and Tobago based road construction company.
Minister Jordan said the award resulted from a case which stemmed from years prior and was adjudicated in a court in April 2015.
The PPP declined to honour the judgment made, Minister Jordan pointed out, and the money awarded has been accruing interest ever since at a 6 per cent rate.
While the case has been appealed and is before the Caribbean Court of Justice (CCJ), Minister Jordan said the funds will be held, “without prejudice” until a final expected judgement is made in June 2019.
He cited this as another example of critically-needed funds being used to boost salaries in key sectors and undertake much-needed infrastructural works, which are used instead to pay the settlement of judgments left unpaid by the former PPP administration.
Minister Jordan noted another case, which he described as “the mother of all cases” also stemming from the previous administration, which may result in the possible award of as much as $6Billion to the plaintiff.
In a recent interview, Minister Jordan explained that the majority of legal judgements, that are being awarded presently, resulted from cases filed against the previous government which were left unpaid. Since the judgements were made against the state, whichever government is in office will be obligated to pay.
Image: Marceano Narine.