And while BSI was happy to report on the outstanding sugar prices for the past two crops, they're also relieved that the implementation of new regulations in the sugar industry have been stayed for the time being.
That's after they applied for an emergency injunction to block the new regulations on exports - but then reached a compromise with the government:
Shawn Chavarria, BSI, Director of Finance
"With respect to the injunction what had occurred is that at the time when the new regulation was introduced, we had some very serious concerns with the new regulation. We found that there were different aspects that violated our rights and would have had a negative impact on our business which could have impacted our operations and even how we pay for cane and so to avoid any short-term adverse impacts, we applied to an emergency injunction, so that a judge can review, in particular the sections of the new regulations that we had challenged."
"For us its the outcome we would have wanted, whereby our business can continue to operate without any adverse impact until we get a ruling from the judge."
The injunction hearing was to take place on 21 July but after receiving requests from GOB's legal team BSI agreed to a consent order until further notice.
