Petaquilla Minerals Ltd. (fka PTQMF)

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Dec 8...La Prensa

The Ministry of Labor and Workforce Development (Mitradel) liquidated the assets of the company that maintains Petaquilla Minerals in abduction, after the refusal of Richard Fifer, legal representative of the company, giving the face and pay back wages to 605 workers.

According to Luis Ernesto Carles, Job holder, this will be done to compensate for the rights of employees then that Fifer did not obey two summonses to appear before the Mitradel.

Petaquilla currently owes about three monthly installments to their workers.

"Already the mass of goods is next to be put up for sale. Already an audit was carried out and now we are looking at how economically calculates the inventory to proceed with the sale of the property," said the minister.

Jorge Obón, company spokesperson, said that in effect "the company's inventory was lifted some time ago, and the Friday December 4 precisely we request the ministry copy of this, but i have not heard anything about the sale of movable property," he said.

With regard to the amount of the property, stated that "the company's assets exceed the existing debt 15 times more", at the time, which explains that negotiations should ensure a legal framework of protection.

"Petaquilla is a company of foreign capital and not a coke stand and beverage garden or shoemaking. The treatment has to be different in order to comply with legal security that guarantees the country," he said.

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