The Solomon Islands government says the company Russell Islands Plantation will not receive any money for the purchase of the company's assets until its chairman can prove he invested in RIPEL with an offshore loan.
The government says it still committed to paying 24 million Solomon Islands dollars, or three million US dollars, to buy the company's assets, with the desire to restart commercial activities and create employment at the plant.
The Special Secretary to the Prime Minister, Dr Phillip Tagini, says the money has been paid to the Central Bank and will be held until RIPEL's Chairman Patrick Wong can produce evidence he invested foreign money into the company.
"Mr Wong has said that he's brought in money from outside by borrowing money from overseas institutions. And the deal was based on the understanding that the government would pay off that loan, paying RIPEL off by way of the 24 million dollars. And government has already paid that to the CBSI. Where we are at the moment now is the CBSI's saying they need proof from Mr Wong of the payment of that amount of money."
Dr Phillip Tagini from the Solomon Islands Prime Minister's office.
