THE Credit Corporation has repossessed two passenger and cargo vessels – the MV KIDRON and MV KAFE – a further sign of the worsening impact of the COVID-19 pandemic on businesses.
Both inter-island boats were once owned and operated by former Member of Parliament (MP) for East Fataleka Steve Abana.
Credit Corporation Asset Management Officer Sam Toma confirmed the company had repossessed the two vessels because of outstanding loan payment.
Mr. Toma said currently the two vessels have been put on tender. Any interested bidders should submit their bids by the end of the month.
By FOLLET JOHN