Former Western Cement owners lose damages case

Former Western Cement owners lose damages case
18 August 2017

David Wong Ken and his partners have lost their case against former public officials and the National Investment Bank of Jamaica (NIBJ), which they accused of conspiring to ruin Western Cement Company to aid rival firms, to which they were connected, to control the market for domestic quicklime.

Western Cement had sought damages for economic loss, but the Court of Appeal at the end of July upheld the judgment of Supreme Court Justice Brian Sykes for NIBJ against Western Cement for repayment of US$15.25m and JMD9.53m (US$13.1m).

Western Cement, which was formed in 1992 and had operations in Maggoty, St Elizabeth, was engaged in the mining of limestone and the manufacture of quicklime. Jamalco was the largest consumer of quicklime in Jamaica at that time.

In June 2003 NIBJ placed Western Cement in receivership as a result of its failure to repay its debt.

Published under Cement News

Tagged Under: Western Cement Jamaica quicklime