A Morocco court to have the Samir oil refinery liquidation cover the assets of its managers

Estimated read time: 1'

A commercial court in Morocco confirmed, this week, a decision that extends the liquidation of Samir oil refinery to the assets of its former managers who contributed to the deterioration of the firm that went bankrupt in August 2015.

According to London-based pan-Arab media outlet Alaraby Al Jadid, the court’s ruling comes after the oil refinery’s managers were found guilty of mismanagement.

The managers in question are Samir’s CEO Mohamed al Amoudi, its director general Jamal Muhammad Baamer and four other directors, including Lars Nelson, Jason Milazzo and George Salem.

For the record, Samir oil refinery, which was owned by the Corral Petroleum Holdings group of Saudi billionaire Mohamed al Amoudi, was forced to stop production due to a court’s ruling after being unable to repay its debts.

Be the first one to comment on our articles...