Cameroon : Domestic gas >Tradex and MCTS to court for unpaid bills of nearly 4 billion FCFA

Tradex SA Trading Company and Export of Crude Oil and Oil Products, dragged to the bar Cameroonian Society Transformation Metallic (MCTS). Reason: the payment of the debt assessed the principal sum of FCFA 3,580,405,807, plus the amount of 470 595 207 FCFA on commercial default interest at 31 December 2014.

According to information relayed by the bi weekly Eco Morning on newsstands Monday, March 21, 2016, the trial court in Yaounde Ekounou made enforceable before recording, March 11, 2016 Order No. 122/16 authorizing the company Tradex SA to perform a seizure of debts to the detriment of the Cameroon Society Transformation Metallic (MCTS).

The amount of 470 595 207 FCFA, we must, according to the minutes of which some trading partners MCTS received a copy last week, "add 150 million FCFA in respect of procedural costs 210 066 050 recipe right FCFA and other legal costs estimated at 292 280 FCFA. A total amount of FCFA 4,411,359,344, "the newspaper said.

According Ecomatin this debt, more than 3.5 billion FCFA that the MCTS is its supplier company Tradex SA, is the sum of unpaid bills over several years, as part of the procurement activities of the industry Petroleum Gas (Liquefied LPG) in Cameroon. "This amount is due, and qu'attestés by invoice transmission slips and debit notes transmitted to the MCTS. This is apparent from the application to the arrest of the purposes served claims last week by the bailiff Alphonse Evien Ngoh some MCTS partners. Including banks which houses its accounts and some wholesalers that distribute MCTS gas to consumers, "one reads.








The newspaper reveals that through two matches by dates of 23 December 2014 and 22 January 2015, the company Tradex SA supported the request for a moratorium requested by the MCTS and the payment of the outstanding balance on the date of signing of mentioned above correspondence was spread over a period of 20 months. MCTS but has so far not fulfilled its commitment, despite various summonses and notices it has received.




In this context, the Minister of Water and Energy (MINEE), following the working meeting chaired February 4, 2016 at his office in relation to unpaid bills kidnappings of LPG to the MCTS is not made on objection to the option taken by Tradex enforced recovery of the debt. "This especially MINEE a letter dated 15 February 2016 addressed to the company Tradex SA, underlines the bad faith of MCTS in this matter," the newspaper writes.