On October 24th, the Casablanca Commercial Court ruled that the oil refinery SAMIR business would continue for an additional 3 months, for the 27th time.
This decision is based on the requirements of article 652 of the Trade Code, which authorizes the continuation of the activity of companies in the process of judicial liquidation, if the public interest or the interest of creditors so requires, either automatically or at the request of the Syndicate or the Crown Prosecutor.
Sources from the National Petroleum and Gas Union indicated that if the court’s efforts failed to reach a normal return to production, especially given Morocco’s urgent need for petroleum refining industries, the court would have to close the procedure, lose workers’ rights and the interests of the country and creditors, and all parties involved in the case.
According to the same sources, the solution to this issue remains the acquisition of the company’s assets cleared of debts by the state or urging those who are interested in doing so. This counts as an option that is beneficial to all except the lobbies awaiting the termination of SAMIR activities to maintain its grip on the market or the real estate lobby that aims to construct buildings at the expense of this movement.