Despite a court order, Guyana Power and Light Inc (GPL) may never be able to recover the more than $184 million owed by Bill Direct (Guyana) Incorporated for customer payments, according to a 2016 audit, which has found that it was the gross negligence and complicity by GPL’s management and executive officers that has resulted in the loss.
The audit of the company’s operations from November 1, 2011 to May 31, 2015, which was conducted by Nigel Hinds Financial Services, also found that no disciplinary action was taken against any GPL officer in relation to this matter.
According to a summary of the findings, Bill Direct was a Collection Agency for GPL and was responsible for the remittance of customer payments. As at December 31, 2014, it owed GPL in excess of $184 million.
The audit report noted that GPL commenced litigation against Bill Direct on September 21, 2011, with judgment being granted in its favour on January 11, 2012. “It is important to note that although GPL secured judgment against Bill Direct, it is very unlikely that the amount of $184 million will ever be recovered,” the report said.