MovieTowne Management has responded to Friday’s action by The Port of Spain Infrastructure Company (POSINCO).
The company reclaimed possession of MovieTowne due to what was termed a consequence of breaches of the terms and conditions of the existing Deed of Lease between POSINCO and TCDC.
POSINCO functions as “Port Landlord, managing the Port Authority’s 151.48 hectares of real estate…”
Trinbago Commercial Development Company (TCDC) calls the action high handed and has told patrons that the Port of Spain facility will remain open while trying to come to a resolution of this situation.
TCDC/MovieTowne is reported to be owing POSINCO a total of $10,904,121.23 in arrears, which was accrued between 2021 to the present.
TCDC said it attempted to pay the outstanding arrears via cheque but was refused and will now head to the court to rectify the matter.