AllAfrica.com

February 14th, 2012

Documentary evidence in possession of the Independent Authoritative Heritage reveals that the Management of the Liberia Petroleum Refining Company(LPRC) paid the amount of US$900,000.00 to a Scottish company called Motherwell Bridge Limited (MBL) on May 12, 2011 for procurement of bulk materials for two of the various storage tanks to be rehabilitated by MBL under Product Storage Terminal Rehabilitation & Expansion Project Contract, but the payment was made without the Board’s authorization and in the absence of MBL posting a performance guarantee security as requested by the Contract.

According to the documentary evidence- Board Resolution, the Board determined as insufficient the explanation provided by the Managing Director of LPRC, Mr. T. Nelson Williams, for payment of the US$900,000.00 without required Board authorization and the posting of required performance guarantee satisfactory to LPRC in keeping with the provisions of the Contract…Read more.