A panel of judges has ruled that Petrotrin did not act fairly with respect to AV Oil and Gas Limited.
Minister of Energy and Energy Industries, Stuart Young, shared the findings of a 76-page decision of the panel of three judges in the arbitration between AV and Petrotrin, during Friday’s sitting of the House of Representatives.
According to Minister Young, the matter was raised by the Opposition Leader on September 10th 2017, and the allegations are what led to the wrongful termination of company. Minister Young said it was based on a lack of documentation and evidence to support the allegations brought against the company that AV decided to challenge the decision to terminate its contract. He shared this was also the basis for the ruling of the judges in arbitrating the matter.