In addition, in 2005 the Supreme Court decision in SC 805 – Dumal Dibiaso ILG & Ors vs Kola Kuma & Ors ( 3 November 2005) puts this issue to rest once and for all with regards to disbursements of Trust monies and how a Trustee is to behave in handling trust monies. MRDC is clearly bound by the decision of the Supreme Court. All Creditors are asked to seek independent legal advice on the effect of the above Supreme Court decision.
Therefore all Creditors are advised to take note of the following:
- MRDC will not deal with, entertain nor enter into any dialogue with Creditors from the date of this notice.
- There are no funds legally available to settle any Creditors claims.
- MRDC only manages Trust monies or funds for the beneficiaries of the Gobe Petroleum Project Area and is not mandated to pay or settle any Creditors who are owed monies by the ILGs, their Chairmen, Deputy Chairmen and other Executives of those ILGs. MRDC is only mandated to pay Trust monies or funds (i.e. Royalty and Equity) lawfully available to the beneficiaries and it is up to the beneficiaries to settle their debts, whether as a group or individually.
- All Creditors are at liberty to pursue their claims in the normal or usual way against those ILG’s', their Chairmen, Deputy Chairmen and other Executives and members of those ILG's who owe you monies.
Mr. Simon Tosali
Secretary Department of Treasury & Chairman MRDC Board
Mr Rendle Rimua
Secretary
Department of Petroleum & Energy
Mr Philip Kende
Chairman
Gobe Leadership Committee & Board of Petroleum Resources Gobe
Mr Augustine S Mano
Managing Director & CEO
Mineral Resources Development Corporation Ltd
