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Sunday, August 7, 2022

DUBAI-BASED OIL TRADER PSTV ENERGY SUED FOR $1.7MILLION

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By Bruce Asemota

Massarr Sarr and SconAfrica Business Consulting Ltd have instituted a suit against PSTV Energy Dmcc and Mads Uldall Borggaard company seeking the sum of US$1.755.000.
According to the statement of claim, the sum is alleged to have been owed by PSTV Energy to the plaintiffs for the services rendered under the petroleum products supply agency agreement from May 2019 to May 2022.
The plaintiffs are also demanding damages for breach of contract, legal fees being equivalent to 10% of the value claimed pursuant to the recommended fee structure on the code of conduct for legal practitioners 2011.
PSTV Energy is a worldwide cargo company based in Dubai, UAE trading in fuel oil, distillates, blending components, base oil, Jet A1 gasoil and Bitumen amongst others.
The plaintiff alleged that the defendants have been evasive and unwilling to pay the sum due and had refused to pay despite repeated demands.
In a ruling delivered on the 22nd June, 2022 by Justice Ebrima Jaiteh on a motion exparte moved by lawyer Mai Ahmad Fatty for the plaintiff, declared that the motion has merit and accordingly granted an interim order of attachment for the petroleum products of the defendants at Gampetroleum Facility Storage Co Ltd at the depot in Mandinaring, West Coast Region pending the hearing and determination of the notice of motion.
The Court further granted an interim order of attachment directing the managing director of Gampetroleum Storage Facility Co Ltd to issue a holding certificate to the Sheriff of the Gambia regarding the defendant’s petroleum products under its utilage /storage custody equal to the monetary value of the plaintiff’s claim against the defendants in this suit.
The court also ordered for a substituted service to be served on the defendants by the plaintiff with the motion of notice and the order of the court.
The case was adjourned to the 1st of July, 2022 for the hearing of the motion of notice.

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