Latest update December 11th, 2024 1:33 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Matter set for report and fixtures in Republic Bank’s breach of contract case

Feb 08, 2018 News

A date has been set for report and fixtures over an alleged breach of contract for which Republic Bank and Precision Woodworking Limited are before the Court. The date was set following discussion between Attorneys representing both sides.
The action filed in 2012 by the Principals of Precision Woodworking claimed there was a breach of a contractual agreement between the Woodworking Company and Republic Bank.
A synopsis of the matter outlined that the Woodworking Company had secured certain loans via Republic Bank but subsequently fell in arrears in the loan servicing.
Republic Bank, as part of the process of recovering the loan, appointed a receiver to secure assets of Precision by way of notice of a Court Order in June 2011.
However, Precision Woodworking through its Directors, Rustum Bulkan and Ronald Bulkan, subsequently approached the court on allegations that Republic Bank had breached the agreement for settling the matter and unlawfully appointed a receiver.
Attorney-at-law, Nigel Hughes, is representing Precision Woodworking while Attorneys-at-law, Robin Stoby, S.C and Tariq Khan are the Counsel for Kashir Khan (the receiver) and Republic Bank.
On January 5, last, Presiding Judge, Justice Navindra Singh, granted an order for inspection of any declarations made by Republic Bank to Precision Woodworking Limited in relation to a matter over a loan approved back in 2011.
The Order was granted with no objection from the opposing side (Republic Bank) since Attorneys Stoby and Khan were not present.
Yesterday, Mr. Stoby submitted to the Court that he was not present because he was not notified that there would have been a hearing on that date. Stoby told the court that he was engaged in another matter at the time and subsequently learnt that there was a hearing for an application to inspect Republic Bank’s records.
During his submission Stoby said that “we were not served nor did we receive a notice from the Registry about any hearing in relation to application for Inspection Order heard on January 5. Attorney Nigel Hughes nonetheless informed the Court that notices were served on the lawyer for Republic Bank (Khan).
The lawyer revealed, too, that the inspection was conducted pursuant to the Order which was granted.
Khan on the other hand pointed out that the inspection was done in spite of a pending appeal of the order and a Full Court hearing into certain aspects of the case.
Following submission from both sides, the attorneys came to an agreement to await the Full Court Ruling in the matter.  The Full Court is set to rule February 19, 2018. The parties were therefore ordered to file all statements and additional statements before February 26, 2018 when the matter is expected to come up before the trial Judge for report and fixture.
Last October, Justice Singh set a date from the commencement of trial of the matter.
At the preliminary stage of the hearing before Justice Singh, a summons was filed by Precision Woodworking to have several paragraphs of the initial statement of claims which were struck out by the original presiding Judge, restored.
In the affidavit in support of the summons, the plaintiffs noted that the decision to strike out various paragraphs of the claim was prejudicial, premature and without foundation in law.
They therefore sought an Order of the Court to restore paragraphs of the statement of claim.
In a written ruling Justice Singh wrote that based on a review of the file, records and the synopses of the case it is ordered that the original claims be restored.
The Judge explained that during the time before Justice Rishi Persaud, the Defendants (Republic Bank) had not filed witness statements despite several orders by the Court directing them to do so.

Similar Articles

The Glenn Lall Show | December, 2nd, 2024

Follow on Tik Tok @Glennlall

 

THE BLUNT OF THE DAY

Sports

Government and GOA sponsors Guyana’s FIBA 3×3 team for AmeriCup in Puerto Rico

Government and GOA sponsors Guyana’s FIBA 3×3 team for...

Dec 11, 2024

-Team departs today Kaieteur Sports- Guyana’s basketball team departed today for San Juan, Puerto Rico, where they will compete in the Americas’ premier 3×3 basketball tournament, the...
Read More
King hits 82, Seales takes 4-22 as West Indies dominate Bangladesh in second ODI to secure series victory

King hits 82, Seales takes 4-22 as West Indies...

Dec 11, 2024

Should the West Indies cricket team play independently?

Should the West Indies cricket team play...

Dec 11, 2024

Fazim Abdool crowned best equipped senior lifter as 19 records shattered

Fazim Abdool crowned best equipped senior lifter...

Dec 11, 2024

Kevin Sinclair 81 not out spearheads Rose Hall Namilco Thunderbolt Flour into BCB/ Madray 20/20 semifinals  

Kevin Sinclair 81 not out spearheads Rose Hall...

Dec 11, 2024

Maggie’s Snackette joins growing list of sponsors

Maggie’s Snackette joins growing list of...

Dec 11, 2024

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]