Latest update February 11th, 2025 2:15 PM
Latest News
- Govt. makes move to cancel CGX, Frontera Corentyne block license in 30 days
- ExxonMobil paying taxes in Bahamas but not a cent to Guyana
- Canadian company completes airstrip, roads to kick off 5.4M ounce gold project in Guyana
- Hamas threatens to postpone next hostage release, claiming Israel has broken terms of ceasefire deal
- Twelve-year-old girl missing for three weeks
Elisabeth Harper’s son fails to file defence in $700 million lawsuit
Reagan Pollard, son of People’s Progressive Party Civic, PPP/C Prime Ministerial candidate, Elisabeth
Reagan Pollard
Harper, involved in a bitter court battle over $700 million owed to the overseas-based LLC Puruni Mining, has failed to file his defense in response to the court action against him, last December.
Pollard is now seeking further clarification regarding claims outlined in the matter.
According to court documents the money was given to Pollard, a local miner, to be invested in the mining industry, but investors never received the agreed returns. The investment was subsequently amended to become a loan agreement that Pollard agreed to repay.
However, the legal document which was filed last December stated that, Pollard was scheduled to repay US$230,000 by last October but he has either “failed, neglected or refused,” to honour the agreement.
The court documents specified that the defendant only issued payments to the tune of US$31,614.
On April, I last, the court granted Pollard, 14 days to file an affidavit in his defence. But instead of presenting a response to the action, Pollard through his Attorney, is said to have filed a summons seeking further and better particulars in regards to claims made by LLC Puruni.
The matter came up in chambers before Commercial Court Judge, Justice Rishi Persaud, yesterday.
In his representation of the overseas-based investors, Attorney Marcel Bobb, told the court that no further clarifications will be given, since all the particulars were already outlined in the statement of claim. He held the defendant must file a response.
As a result the matter has been adjourned to May 13. On that date, Pollard’s Attorney is expected to provide the court with the response.
Pollard became embroiled in the court battle over the alleged embezzlement of $700M which was invested by the group of foreign investors, (LLC Puruni Mining), a company incorporated under the laws of Delaware, United States of America.
According to court documents on April 17, 2012 Puruni LLC formally entered into a joint venture agreement with Pollard and his company, Reflex Mining Company Inc., for the purposes of operating a dredge or dredges on Pollard’s mining claims.
The investors had agreed to fund the joint venture by providing a loan up to US$3 million but invested a total of US$2.8 million over a period of time. The deal turn sour after the investors were not receiving the agreed returns from Pollard.
Pollard eventually met with the investors who agreed to amend their previous agreement and settle the matter by turning their investment into a loan that he agreed to repay. This was after the investors threatened legal action against him.
A document purporting to be some kind of promissory note was then prepared and signed by Pollard and his mother, Elisabeth Harper, agreeing to honour the commitment to repay the $700M loan with interest, beginning October last year.
In the document filed by Boston and Boston, the law firm representing the overseas- based LLC Puruni Mining, given Pollard’s denial to honour his obligations to pay despite repeated requests and demands by the plaintiff, the investors are seeking sum due and payable by the defendant with interest.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Are we better off today than we were before first oil?
Peeping Tom… Kaieteur News-If you had asked me ten years ago what I wanted for Guyana, I would have said a few things:... more
OAS Secretary General Election and renewed OAS Consensus
Antiguan Barbudan Ambassador to the United States, Sir Ronald Sanders By Sir Ronald Sanders Kaieteur News- The upcoming election... more
Weekend Cartoon
