COFFEE FARMERS will not get any immediate benefits for damage to their crops caused by Hurricane Ivan because the joint liquidators of Dyoll Insurance Company are taking steps to appeal the Supreme Court ruling.
Last month, Justice Bryan Sykes directed that the coffee farmers were entitled to the US$3 million paid by reinsurers for damage to their crops.
The farmers had put in their claims after their crops were destroyed by Hurricane Ivan in 2004. The liquidators claimed that the money should be put into the common pool to be paid to all Dyoll creditors.
DIRECTIVES
The parties asked the Supreme Court for directives on the issue and Justice Sykes issued his directive in favour of the coffee farmers.
In a press release issued yesterday, the Coffee Industry Board disclosed that last Friday, the law firm DunnCox, representing the trustees of the Coffee Industry Insurance Fund, demanded payment of sums being held in an escrow account with the joint liquidators of Dyoll. The liquidators responded that they had instructions to appeal the Supreme Court ruling.
NEW LEGAL CHALLENGE
"This new legal challenge prevents the trustees from receiving and disbursing the funds to the eligible coffee growers," the Coffee Industry Board disclosed. The board said further that it "regrets this new challenge which prevents eligible coffee growers from accessing the benefits due to them following Hurricane Ivan of September 2004." The board has promised to keep coffee growers informed as to the status of the appeal.
