00:00In a release earlier today, the National Energy Corporation of Trinidad and Tobago Ltd. stated that it has so far
00:07received a payment of U.S. $484,000 of the total sum of U.S. $779,619.69 owed by
00:20Wealth Services.
00:21It noted that negotiations for a settlement resulted in a consent order whereby Wealth Services agreed to pay the total
00:30together with interest and National Energy's costs.
00:34National Energy's Chairman Gerald Ramdean said, quote,
00:39The pursuit of this debt and the success of National Energy demonstrate the difference between the approach taken by the
00:46present board and that of the previous board in the conduct of the people's business.
00:52As a state enterprise, we have a responsibility to safeguard the assets and resources entrusted to us.
00:59Where monies are legitimately due to National Energy, we have an obligation to take the appropriate steps to recover them,
01:07end quote.
01:08The release explained that the sum represents monies that were owed to National Energy for the use of its birth
01:15three and associated marine facilities at the Port of Brighton-la-Bray.
01:20The corporation's board said that upon entering office in July of 2025, it found an untenable state of affairs where
01:30overdue rents were in some cases statute barred and in other cases agreements to make payments for outstanding rental charges
01:38were never enforced.
01:39It said this particular claim was at risk of being statutes barred and the outstanding sum of U.S. $779
01:49,619.69 being lost had immediate steps not been taken by the present board to recover this outstanding sum.
02:01Vashana Pagu, TV6 News.
