MovieTowne complex seized by PoS Infrastructure Company

  • Aug, Fri, 2024

The Port of Spain Infrastructure Company (POSINCO) has moved to retake possession of MovieTowne.

In a statement on Friday afternoon, POSINCO said, “This re-entry exercise was undertaken as a consequence of breaches of the terms and conditions of the existing Deed of Lease between POSINCO and TCDC.”

POSINCO said it has been in discussions with TCDC for several years regarding the breaches in an effort to avoid Friday’s outcome, while maintaining its rights under the Deed of Lease to re-enter. “Those discussions have not borne fruit,” the statement said.

The statement concluded, “POSINCO has endeavoured to conduct the re-entry exercise peaceably and in a manner that would be the least disruptive to the tenants and other stakeholders of TCDC, and it assures that it will continue to treat the matter with the sensitivity required and in accordance with the Laws of the Republic of Trinidad and Tobago.”

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