Court orders sale of Wilkinson, Levy’s shares in WIPL Loop Jamaica

The content originally appeared on: Jamaica News Loop News

Two former directors of the energy company West Indies Petroleum Limited (WIPL), Courtney Wilkinson and John Levy, are to sell their stake in the entity to WIPL, according to court documents.

The details of the imminent sale of Levy and Wilkinson’s shares are contained in an order by consent issued by the Eastern Caribbean Supreme Court in the High Court of Justice which is based in St Lucia.

Levy and Wilkinson were removed as WIPL Directors approximately a year and a half ago. However, both men control a minority 20 per cent shares each in the company.

The three founding directors of WIPL, Charles Chambers, Gordon Shirley and Tarik Felix control the remaining 60 per cent shares.

According to the court order, seen by Loop News, West Indies Petroleum Limited and/or the individual shareholders agree to purchase the shares of John Levy and Courtney Wilkinson.

The documents revealed that litigants are to engage a valuator to expedite the sale to WIPL.

Several court actions taken out by Wilkinson and Levy against WIPL have been dismissed by the courts in Jamaica and overseas.

Both Wilkinson and Levy are before the criminal court in St Andrew for several offences, including unauthorised access to computer program or data, conspiracy to gain unauthorised access, conspiracy to access with intent to commit or facilitate the commission of offence and conspiracy to unauthorised modification of computer program or data.

Wilkinson and Levy were charged in February 2022. They deny the allegations.

It’s understood that the pending sale of Wilkinson and Levy’s shares comes as the energy company moves to separate itself from the men and pursue a raft of initiatives in Jamaica and across the region.