Marpin Board Member says they are Not Going to IRC on DOMLEC Issue

footage (1)Contrary to reports that Marpin 2K4 limited has brought or will bring the impasse with DOMLEC to the Independent Regulatory Commission (IRC), a Board Member of the Company said this is not true.

Board Member of Marpin 2k4 Limited, Mr. Parry Bellot in an exclusive interview with SAT TV, denied this allegation.

“We feel confident that DOMLEC is not interested in doing anything that would close down Marpin or make its operations seize.”

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Mr. Bellot did not confirm the amount owed but did say it is substantial.

Reports indicate that the Company owes DOMLEC $1.7 million dollars for electricity consumption.

According to a statement from the Board of Directors, the Company is determined to remain fully operational, with ever-improving medium and long term prospects.

 

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It also stated, while their indebtedness to the electricity provider was and is significant, by mutual agreement, Marpin has been paying  and remains up-to-date on payments covering  all current monthly electricity consumption.

It went on to say, we accept that Marpin, in respect of the earlier accrued debt, has not yet been financially able to satisfy the electricity provider’s not unreasonable demands for a start in reducing this.

The Board of Directors will continue to take all prudent steps to put the company in a strong financial position so that, it can ultimately clear all outstanding debt.

 

© 2012 SAT Telecommunications Ltd.

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