The High Court recently ordered the Guyana Telephone and Telegraph Company (GTT) limited, to pay over to the National Industrial and Commercial Investments Limited (NICIL) the more than US$3M owed in garnishment for the outstanding sum for the sale of the government’s shareholding to a Chinese company.
The amount represents a garnishment order for payment of all dividends due and owing to Hong Kong Golden Telecom Company Limited (HKGT) accrued upon the 4,125 shares issued to it by the GTT.
Those shares in turn represent the final dividend of the sum of US$775.76 per share by the GTT for the year ending December 31st, 2019 which stand charged to NICIL by an order of court dated July 15th, 2019 against HKGT, as well as any other dividends to be paid in the future by the GT&T.