OC-BVI President Glenn Harrigan said yesterday that though the Commercial Court had previously ruled in 2009 that the company was owed around $10 million, the amount grew due to unpaid interest that accrued while government appealed the judgment before the Eastern Caribbean Supreme Court of Appeal, which found in the company's favour last April.
Under the terms of a 1990 agreement, government claimed ownership of the plant in late 2006.
counterclaimed for around $5 million in equity invested in the plant and around $18 million in unpaid water bills, interest and penalties.
After a trial, Commercial Court Justice Edward Bannister ordered government in October 2009 to pay the company $5 million.
That money was paid in installments issued between 2009 and 2011, Mr. Harrigan