The strange liquidation of Kosmos Energy Senegal

The strange liquidation of Kosmos Energy Senegal
The strange liquidation of Kosmos Energy Senegal

According to Libération, the liquidation of Kosmos Energy Senegal, owner of 26% of the GTA gas project, raises many questions. Initiated by Sonam Assurance, which claims a significant debt, this procedure is now in its final phase.

By a judgment rendered on June 16, 2023 (n°1162/23), the commercial court ordered the liquidation of the assets of Kosmos Energy Senegal, the newspaper announces. Insa Sonko was appointed trustee, while Ibra Mass Ndiaye held the position of commissioner judge. The trustee has since established the statement of debts, validated by an order (n°144/2024) on March 1, 2024. This document notably recognized a provisional debt of 2.43 billion FCFA for Sonam and a final debt of 1.33 million FCFA for the Social Security Fund (CSS), add our colleagues.

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However, Kosmos Energy Senegal contests this order. The company argues that the judgment of the Dakar Court of Appeal of January 7, 2022, the basis of Sonam’s claim, was annulled by the Supreme Court on August 9, 2023, adds Libération. According to Kosmos, this cassation brings back into force a previous judgment from 2020 which dismissed Sonam of all her requests. The company also claims to be up to date with its payments to CSS and requests the closure of the liquidation in the absence of valid creditors, relays the newspaper.

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