The Guyana National Industrial Company Inc (GNIC), has paid government holding company, NICIL $148M of the $148.8M which it owed for unpaid debts.
The matter, which is currently in the course of settlement, is being heard in Chambers, before Justice Rishi Persaud in the Commercial Court, at the High Court in Georgetown.
When the case was called yesterday, Timothy Jonas and Neil Boston SC, attorneys for the National Industrial and Commercial Investment Limited (NICIL) and GNIC, respectively, reported to the court that GNIC has so far paid $148M.
The attorneys have indicated, that the two companies will work out the payment of GNIC’s outstanding balance of $860,870.
