30 Jun 2009

Solomon Islands High Court orders RIPEL to return to Russell Islands

10:39 am on 30 June 2009

The Solomon Islands High Court has made orders recognising the rights of Russell Islands Plantation Estates Limited, or RIPEL, to return to Russell Islands to carry out assessment and valuation of its property and assets on the islands.

RIPEL has been idle for many years after labour disputes

Ripel Lawyer, Andrew Nori says in pursuance of the terms of the orders the company will be sending a management and assessment team to Yandina to carry out assessment of damaged property and assets.

He says the orders pave the way for RIPEL to regain access to and control over its property and assets prior to considering resumption of business operations.

For the past five years the break down of law and order in Russell lslands has made it difficult for the RIPEL management to remain or return to the islands.

This has resulted in widespread destruction of company property, including buildings, equipment, machinery and livestock.

He says the total loss caused to company property and assets is estimated at more than 9 million US dollars and loss of revenue at 32 million.