Minister Jennifer Baptiste-Primus, from Trinidad-Tobago, declared that until April 5 - when a liquidator moves in - steel giant Arcelor Mittal is still alive and still has certain responsibilities.
The Minister made her feelings known following a three-hour long meeting with Arcelor Mittal representatives at the ministry’s offices, Tower C, Wrightson Road in Port-of-Spain.
Coming out of the meeting, Baptiste-Primus said the multi-national steel company was not yet insolvent (unable to pay its debts).
“Arcelor Mittal is not yet insolvent, the process has not yet been triggered, there is an intention to do so. Based on the information I received this afternoon, the company will follow the process that is laid down in the law.
“By April 5, the liquidator is expected to be appointed, and then Arcelor Mittal as a company, comes to an end. But, as I speak to you, Arcelor Mittal is still a live entity and therefore that company has certain responsibilities by law,” the minister said. Baptiste-Primus said a register would be established before the end of this week. She added that the Employee Assistance Programme (EPA) and the need for psychological counselling of retrenched workers would be implemented.
Coming out of the meeting, Baptiste-Primus said the multi-national steel company was not yet insolvent (unable to pay its debts).
“Arcelor Mittal is not yet insolvent, the process has not yet been triggered, there is an intention to do so. Based on the information I received this afternoon, the company will follow the process that is laid down in the law.
“By April 5, the liquidator is expected to be appointed, and then Arcelor Mittal as a company, comes to an end. But, as I speak to you, Arcelor Mittal is still a live entity and therefore that company has certain responsibilities by law,” the minister said. Baptiste-Primus said a register would be established before the end of this week. She added that the Employee Assistance Programme (EPA) and the need for psychological counselling of retrenched workers would be implemented.
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