EFCL agrees to settle $12.4 million debt

HOURS after High Court marshals levied on the Education Facilities Company Limited (EFCL), carting away truck loads of office furniture, the state-company has agreed to settle a $12.4 million debt owed to a local project management firm.

From as early as 8 am yesterday, Woodbrook-based Prudecon Limited’s attorney Joel Roper, its representatives and marshals of the High Court went to the EFCL’s head office at Long Circular Road, Maraval, to levy on the state-company.

Couches, office chairs and other furniture and fittings were loaded onto trucks by bailiffs.

The police were also present to oversee the levy.

At about 1 pm, EFCL agreed to liquidate its debt with Prudecon. However, the furniture and other items had already been taken away.

For the EFCL to get back its furniture and the other items, it will have to pay the marshal’s poundage fees and other costs associated with the levy, estimated at one percent of the judgment debt of $12,445,866.39.

Prudecon Ltd did engineering design work for the construction of several Early Childhood Care Centers for the EFCL

This was the second levy on EFCL in as many months.

In June, the state-company staved off being levied on by a contractor it owed close to $.7 million.