Issue No: 743; 9 May 2001

According to a report in the Daily Post today, receivers appointed by the Fiji Development Bank for the Valebasoga TropicBoard Ltd, have still not been able to enter the company premises. The company has refused entry to the receivers and has hired people to prevent any entry by the receivers. The Labasa police have not been able to enforce the law by allowing the receivers to enter the property and take control of the firm. (see: http://www.pcgov.org.fj/hot_press/no727.htm ).

The frustration of the receivers at the inability of law enforcement officers to enforce the law is a sign of things to come in Fiji's commercial world.

The newspaper report stated:
"It is understood that a court injunction has been issued by the High Court but despite this, Receivers and Managers could not enter the premises. For money lending institutions they now have to think twice before lending money to businessmen in the North".