Tensions ease at MovieTowne

A senior MovieTowne source says tensions have eased on the compound amid its ongoing court battle with the Port of Spain Infrastructure Development Company (POSINCO).

The MovieTowne multiplex, entertainment and commercial centre at Invaders Bay, Port of Spain, sits on land leased to Trinbago Commercial Development Company Ltd (TCDC) by POSINCO.

On August 23, bailiffs took control of MovieTowne’s office and banquet hall as POSINCO claimed TCDC, a MovieTowne Holdings subsidiary company, owed $10,904,121.23 million in rent accumulated between May 2021 and August 2024.

TCDC, however, claimed that amount was inaccurate, as it was based on a flawed valuation, and stopped making payments while the dispute was being resolved.

After bailiffs took control of the office, POSINCO informed MovieTowne tenants it was now responsible for collecting monthly rental payments.

At a virtual hearing on August 26, before Justice Eleanor Donaldson-Honeywell, TCDC agreed to pay $3 million. POSINCO was instructed not to disturb the occupation of MovieTowne’s tenants pending the outcome of the High Court matter over the rent dispute between them.

However, MovieTowne and POSINCO continued to clash after the court order was issued. MovieTowne officials said POSINCO's security guards continued to deny them access to the office.

A senior MovieTowne executive told Newsday on September 11 tensions have eased after POSINCO changed the security guards.

“These new guards are more amenable and easier to deal with, and are letting us access our offices. So that worked out well for us, because all we were saying is that we need access to our offices.”

The source said MovieTowne remains open for business, adding, “The matter is now before the courts and when the legal term starts hopefully we get an early date and then we will let the courts decide, based on all the evidence.”