-until security is given to Kadim Khan for US$520,000
CHIEF Justice Ian Chang on an application by Kadim Khan of Lama Avenue, Bel Air Park, last Friday issued an order under Section 72 of the High Court Act preventing Timothy John Ashworth-Foster, of the United Kingdom and the owner and director of Tigerwood Guyana Inc. from leaving or attempting to leave Guyana until he has given security to Kadim Khan in the sum of US$520,000. In his 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 $US670,000 to be paid in monthly installments under terms that if one installment was not paid the whole amount became due. Khan claims that only the initial sum of US$150,000 was paid and thereafter nothing else was paid. He therefore claims the whole balance of US$520,000.
The case is fixed for September 22 in the Commercial Court and Khan is represented by Attorney-at-Law Anil Nandlall.