Foreign firm downs shutters sans paying BD2.6m to Bapco

Manama : A foreign company downed its shutters last November and moved to the UAE without paying its BD2.6 million debt to Bahrain Petroleum Company (Bapco). Bapco has lodged a complaint with the Urgent Matter Court, demanding provisional seizure of the company’s equipment and belongings.

According to court files, Bapco has claimed that it had provided the company with petroleum products worth BD2.6 million and that the company did not pay for it.

Bapco told the court that the money was due last June and legal procedures were taken against the company, which informed that the reason for its delay in payment was due to it experiencing difficult financial conditions and requested a phased payment of the money.

Bapco also stated that the company closed its factories in Bahrain and transported all its movables, employees and raw materials to the UAE by the end of November 2016. The court has requested Bapco to assign an expert to inspect whether the company is still functioning or not. The court has also asked the expert to find out whether the company has closed its factory in Bahrain or not. The expert should submit the report before May 17.