Justice BS Roy awarded a $35 million judgement to Bob Dhoray of Harvey’s Electrical and General Store against Komall Lochminarain of the Full Range Record Shop at the January 3 sitting of the Commercial Court.
According to court documents, Lochminarain of 95 Regent and King streets, Lacytown, borrowed $35 million from Dhoray of Lot 133 Regent and Cummings streets, Bourda and “has failed, refused and/or neglected to repay the plaintiff”. The judge ordered Lochminarain to repay the aforementioned sum with interest at the rate of 6% per annum from the date of the filing of the writ to the date of judgement and thereafter at a rate of 4% per annum until fully paid.
Attorney-at-law Gary Ramlochan represented the plaintiff. There was no appearance of or for the defendant.
Meanwhile, Citizens Bank Guyana Inc of Lot 201 Camp and Charlotte streets was granted judgement in the sum of $1,675, 666 against defendants Steve Wynter and Bevon Clementson, both of Lot 1576, Block 8, Tuschen, East Bank Essequibo. Interest was granted at the rate of 7% on $1,493,717 from November 17, 2006 until fully paid. The usual foreclosure order was laid, the mortgage deed and the promissory note was laid over for cancellation.
According to the Statement of Claim, on May 3, 2005 the defendants executed a promissory note in favour of the plaintiffs for the principal sum of $1.7 million. Under the terms of the agreement the first named defendant agreed to pay the sum together with a fixed rate of 7% and a monthly instalment of $13,181 from June 3, 2005. Additionally, the defendants executed certain bond and deed of first and second mortgages to secure the repayment of all sums.
The claim also said the defendants defaulted on the terms of the aforesaid mortgages and are in default and indebted to the plaintiffs for the said sum. Attorney-at-law Morsha Johnson represented the plaintiff. There was no appearance of or for the defendant.
In the bank’s case against defendants Shazad Mohamed of Lot 831, Section ‘B’ Great Diamond, East Bank Demerara and Fazeila Hussein it was granted judgement in the sum of $1,204,057 together with an interest of $1,173,818 at the rate of 8% per annum from September 5, 2006 until fully paid. The usual foreclosure orders were issued and the mortgage deed was laid over for cancellation along with the promissory note.
According to the Statement of Claim, on May 20, 2002 the defendants executed a promissory note in favour of the plaintiffs in the principal sum of $1.4 million. Under the terms of the promissory note the defendants agreed to repay the sum at a fixed rate of 8% per annum in 240 monthly instalments of $11,711 from June 20, 2002.
The claim said the defendants also executed a bond and deed of first mortgage at the stated address, on January 7, 2004 to secure the repayment of all sums advanced.
Also in the Commercial Court, Globe Trust and Investment Company Ltd of 92 Middle Street, Cummingsburg was granted judgement in the sum of $253,365 against Sonia Pemberton of 54 Lime Street, Werk-en-Rust. The judge ordered that interest be paid on the principal sum of $121,121 at the rate of 20% per annum from November 14, 2006 until payment.
According to the Statement of Claim, on August 8, 2000 the defendant by a promissory note promised to pay the plaintiff $150,000 with interest at the rate of 20% per annum and monthly instalments of $7,634. It was agreed that payment would begin on September 8, 2000 and continue until the whole sum is paid. The defendant also agreed that in the event of default, on any of the instalments, the whole balance will become payable.
As at October 3, 2006 the aforementioned sum was outstanding and claimed after the defendant defaulted. Attorney-at-law Stephen G N Fraser represented the plaintiff. There was no appearance of or for the defendant.
