CURACAO ISLA OIL REFINERY BV OWES CURACAO REFINERY UTILITIES NV CRU MILLIONS OF DOLLARS!
Early this month, in a summary court judgment in favor of
Curacao Refinery Utilities NV (CRU) against Curacao Oil Refinery; “Refineria
Isla Curacao BV”; aka “Isla”, CRU requested the court to dictate a sentence and
decide on what is it that Isla would need to pay on the storage of products in
the tanks.
HOW IT ALL STARTED
After CRU took over the petroleum installations at the
beginning of this year from Isla, CRU was in charged with the custody and with
the storage of products that were left in the tanks of the refinery and of
Bullenbaai.
CRU kept continued to charge Isla for monthly storage service,
but Isla refused to pay the monthly expense. A dispute surged in which CRU
decided to ask for a summary court case judgment.
WHO WON THE CASE?
During the summary court case judgment, the court dictated
that Isla Refinery owes CRU payment on storage. In the month of September 2020,
CRU, and Isla Refinery's experts, together determined the inventory amount of
crude and products, (a) Whose product is it and, (b) Where these would be
stored.
With this, CRU calculated that Isla must pay for storage,
since January 2020 until now, a sum that grew in the millions.
JUDGEMENT
The judge passed the verdict, which meant that; Isla owed more than
24 million guilders to CRU.
The debt will continue to grow each month as long as the
product are kept in the tanks for storage.
After this judgement, CRU is permitted to sell the inventory and storage products to cover part of what Isla Refinery owes.
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