Dominica telecoms company in receivership

Saturday, January 31, 2004

ROSEAU, Dominica: Dominica's home-grown telecommunications company Marpin Telecoms and Broadcasting (MT&B) revealed Thursday night that it is in receivership. 

Chartered accountant Gordon Moreau, who has been contracted as receiver/manager, broke the news live on the MT&B's Marpin Evening News at 8:00 pm (00:00 GMT). 

Mr. Moreau explained that as receiver his job is to collect outstanding money and control the finances of the company. He stressed that Marpin in not in liquidation. 

He declined to comment on the future of MT&B's more than 100 employees, saying it their fate depended on the outcome of a financial review. 

The receiver/manager added that an audit will be done to ascertain the direction the 20-year-old Marpin will take in the coming months. 

Marpin entered into a lengthy legal battle that tore down the monopoly of the British telecommunications company Cable and Wireless in Dominica in 2000.

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