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UK businessman blocked from leaving Guyana

Sep 01, 2010 News

– Former PNCR MP claims owed $100M

A former Parliamentarian of the Peoples’ National Congress Reform (PNCR) has been granted an injunction blocking his former business partner from leaving Guyana over a money dispute.
Businessman Kadim “Kads” Khan, in court documents claimed he is owed over US$500,000 ($100M), was granted the injunction on Friday by Chief Justice, Ian Chang.
The order effectively forbids Timothy John Ashworth-Foster, of the United Kingdom and the owner and Director of Tigerwood Guyana Inc. (TGI), from leaving or attempting to leave Guyana until he has given security to Khan in the sum of US$520,000.
In the writ against Foster, Khan claims the sum as an amount due, owing and payable under the terms of a settlement and share sale and purchase agreement dated January 19, 2010.
Under the agreement, Ashworth-Foster agreed to purchase from Khan his shares in Tigerwood Guyana Inc., for the sum of US$670,000 to be paid in monthly installments under terms that if one installment was not paid, the whole amount became due.
The former Parliamentarian claimed that only the initial sum of US$150,000 was paid but nothing after.
The case is fixed for September 22 in the Commercial Court and Khan is represented by Attorney-at-Law Anil Nandlall.
In 2007, Iwokrama International Centre for Rainforest Conservation and Development entered a five-year partnership with the company to harvest logs in its concessions.
At that time, Iwokrama, heavily dependent on donors for its operations, had reportedly said that it was looking at ways to diversify its income base.

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