by Mickey Kavera – EM TV, Port Moresby
Madang businessman Peter Yama’s 14 year court battle ended in victory this afternoon at the Supreme Court in Port Moresby.
Parties involved in the court proceedings involve Smugglers Inn, in which Peter Yama is the owner and the Papua New Guinea Banking Corporation, trading currently as Bank South Pacific.
Smugglers Inn was part of the Yama Group of Companies that faced a similar fate to other assets belonging to Peter Yama. The Papua New Guinea Banking Corporation had then imposed fixed floating charges on Yama’s assets, resulting in loss of business.
The Supreme Court found this afternoon that these bank fees were invalid, granting victory to Peter Yama.
Yama described the win as a relief to him and his family. He is planning to sue the bank for damages.
Earlier this year, Yama had been convicted on two counts of contempt of court; the first was related to his interference and harassment of members of the police force and the second was threats he made to shoot members of the police force.
https://youtube.com/watch?v=9WTVLgZcl8s%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0
