The Guyana Government is hoping to meet with representatives of Trinidadian construction company NH International Ltd to work on an arrangement that could see a reduction in a $2.8 billion arbitral award now due following a recent ruling by the Caribbean Court of Justice (CCJ), Attorney General Basil Williams says.
The new government continues to be faced with multi-million dollar judgments and is struggling to find the money to pay these liabilities. Government has taken up the approach that it will seek an audience with the other party with a view of having these sums reduced. This had been done recently when Surinamese beverage company Rudisa International NV agreed to accept US$6.22M of the US$7.72M that accumulated following the award by the court. The judgement represented monies collected in an environmental tax which was found to be in contravention of the Revised Treaty of Chaguaramas (RTC).
Speaking to Stabroek News last Thursday, Williams said that since the ruling was made by the
