Jamaica prepared to file claim against Noranda – Fayval Williams

Jerome Reynolds, Staff Reporter

State Minister in the Ministry of Finance, Fayval Williams, says the government is prepared to file a claim in the bankruptcy proceedings filed in the United States by Noranda Aluminum Holding Corporation to recover outstanding debt.

Williams says the government is committed to getting what is due to it.

She says the government continues to pursue negotiations with Noranda to arrive at an amicable solution.

The state minister says among the issues being discussed are the amounts owed for the bauxite levy, the rate of the cess going forward and the continued operation of the bauxite company. 

She, however, declined to go into details.

In February, Noranda filed for Chapter 11 bankruptcy in a US court.

Last week, the court, in a newspaper in Jamaica, advised that any creditor who might have a claim against Noranda must file a proof of claim on or before June 3.

It said the deadline for governmental creditors to file a claim is August 30.

Noranda reportedly owes the government more than $3.5 billion under the bauxite levy.

It has disputed the amounts as well as the levy being charged to export bauxite.

However, government wants it to pay up.