Fri, 23 Aug 2019 19:13 - Updated Fri, 23 Aug 2019 19:13
Court executes factory seizure
Dondo - The Cambambe District Court, Cuanza Norte province on Friday executed the seizure (legal seizure of property) of the Satec textile factory, located in Dondo city, in the framework of an order promoted by the Attorney General's Office of the Republic.
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Cuanza Norte: Cambambe Court executes seizure decision of Satec factory
This measure is the result of a judicial seizure of assets in favor of the Angolan State and directed to textile industries located in the national territory, in compliance with the ruling issued by the Luanda District Court and awarded to the State Asset Management and Participation Institute ( IGAPE), as the trustee.
On the occasion, IGAPE's Chairman of the Board of Directors, Valter Barros, who was responsible for formally receiving the assets of the factory, on behalf of the State, said that this was a preventive process, in which PGR provisionally returns the project to the supervisory authority, pending the final decision of the court.
While such a process is under way, he explained, it will be up to IGAPE to ensure the safety and control of that plant which may be subject to a privatization process in the future.
He indicated that after the transfer of management, it will be up to the group, which managed the factory, to be responsible for settling the liability, essentially with the remuneration of the 14 workers who currently render service to the factory and who have not been paid for 26 months.
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