Samoa Land Corporation in $500,000 lawsuit
A half a million tala loan is at the center of a lawsuit in the Supreme Court involving Pharmtech Company Limited and the Samoa Land Corporation (SLC).
The $500,000 loan was given by the Samoa Commercial Bank in 2010 as part of a partnership agreement between the SLC and Pharmtech Company Limited, according to Pharmtech Limited owner Papali'i Panoa Moala.
During an interview with the Samoa Observer, Papalii confirmed there was a partnership between his company and the SLC, but the Government opted to terminate the contract.
“When the SLC did not honor our agreement, a lawsuit was filed against the SLC last year and this agreement included the loan you are referring to,” he said.
The Minister of Commerce Industry and Labour, Lautafi Selafi Purcell, confirmed that the matter is before the Court and it would be inappropriate for him to comment.
According to the MCIL business registry, Pharmtech Company Limited, ceased to business activities effective 5 September, 2018.