High Court unlocks govt's funding freeze on BCL

Dixon-Warren and government, which is BCL’s single biggest creditor and former sole shareholder, have been engaged in an increasingly bitter dispute over the path out of liquidation and high costs of the process.

Government, particularly the minerals minister, has come under intense pressure in Parliament for pumping P1.1 billion into BCL’s liquidation, with legislators accusing Dixon-Warren of dragging out the process in order to make a killing out of the liquidation. Dixon-Warren has said the costs were associated with continuing care and maintenance activities, as well as various studies and developments required to maintain and present a saleable asset to potential investors.