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Millions in legal fees at TCL

by | Aug 20, 2014

TCL_LOGOTrinidad Cement Limited (TCL) Chief Executive Officer Dr. Rollin Bertrand remains CEO despite his resignation from the company’s board of directors.

Dr. Bertrand was among six directors that shareholders wanted removed.
According to reports, the new board elected Wilfred Espinet as its new chairman and they were also expected to make a decision on Dr. Bertrand’s future.

One shareholder said shareholders are expecting to see results soon.

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Yesterday shareholders held a special compulsory meeting at the Radisson Hotel where they voted to remove the board.

TCL had filed an injunction in the High Court to have meeting blocked, but was unsuccessful.

The company also lost its appeal.

Legal costs for the company was reportedly in the millions, and shareholder Peter Permell wants the incoming board to clarify the legal costs.

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