International Comtrade and Shipping Solomon Islands Limited, or ICSL, is seeking a High court order to quash a decision to de-register the company by the Registrar of Foreign Investment.
ICSL, which owns about 15 percent shares in RIPEL, the cocoa/copra company, had its investment approval cancelled last week because it had ceased operations and remained inactive since June 2004.
The Registrar says this proved it lacked the management ability to invest in RIPEL which is also part-owned by the government.
The SIBC reports that RIPEL manager, John Whiteside, has rejected earlier media reports that his work and residence permits have been cancelled.
