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The Cepep Company Ltd has initiated legal action against its former board by issuing a pre-action letter to 10 former board members, warning they could face legal action over alleged breaches of fiduciary duty, fraud, and misrepresentation in the extension of more than 300 core contracts to 2029.

The letter, sent through Freedom Law Chambers, led by Anand Ramlogan, SC, on behalf of Cepep, follows similar legal steps against former chairman Joel Edwards. The letter, dated August 13, sought explanations from the ex-directors for their votes in favor of extending contracts — which would have cost the state $1.4 billion and which has triggered lawsuits, including one filed by a contractor, Eastman Enterprises Ltd, over the termination of contracts.

At the center of the dispute is Board Note 01/25, signed by Edwards on April 24 —mere days before the April 28 general election — which stated that the cabinet had approved the extensions. Cepep’s CEO, Keith Eddy, and corporate secretary, Nicole Gopaulsingh, have said in affidavits in the Eastman case that the board acted on the understanding that it was ratifying a cabinet decision, based on assurances from Edwards that he had received the information from then line minister Faris Al-Rawi.