Kroll did not request information to Palomar, resulting in a misleading and incomplete Report: Spokesperson – Unabridged

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Kroll did not request information to Palomar, resulting in a misleading and incomplete Report: Spokesperson – Unabridged

2:43 CAT | 27 Jun 2017

Palomar notes the publication of Kroll’s report regarding the loans contracted by Mozambican state-owned companies ProIndicus, EMATUM and MAM.

A Palomar spokesperson issued the following statement:

“Notwithstanding Palomar’s offer to meet with Kroll, at no time prior to the finalisation of the Report did Kroll request any information or seek assistance from Palomar in order to understand the transactions in issue.

As a result, the Report is flawed and incomplete, and contains a number of materially inaccurate and misleading statements.

For example, the Report implies that Palomar advised on all of the initial loans to the three Mozambique companies. This is simply wrong.

Palomar was not involved in the arrangement of the Proindicus loans in 2013 or in any capacity, in relation to the arrangement of the Ematum loan in 2013. Further, Palomar was an unpaid co-arranger of MAM in May 2014.

Had Kroll spoken to Palomar, as Palomar offered, these (and other) basic facts about the transactions would have been made clear. Instead, the Report risks further muddying the waters around a complex and important issue. This is disappointing”.

Source: Portland Communications / Press Release