By George Barclay
WILLEMS Timber and Trading Co, Limited on Friday filed a statement of claim against Aurelius Inc and four defendants.Rafeek Khan, the 2nd named defendant and Melissa Lawrie, the 4th named defendant are directors of the firstnamed Defendant.
The third named Defendant Rabindranauth Boundnauth is the Secretary of the firstnamed defendant.
According to the statement of claim, all the shares in Willems Timber and Trading Company Limited (WTTCL) are owned by Guyana Lumber.
All the shares in Guyana Lumber and Timber Company (GLTC) are owned by Harry Rambarran who is the Chief Executive Officer and Chairman of Willems Timber and Trading Company Limited (WTTCL) and Guyana Lumber and Timber Company Limited (GLTC).
Also at all material times, Guyana Lumber & Timber Company has been the sole owner of Willems Timber and Trading Company Limited.
It was pointed out that the core business of Willems Timber and Trading Company Limited is logging which it does on a very large scale that requires the input of millions of dollars every month to sustain its viability.
The Statement of Claim went on to point out that on the 13th day of January 2005, GLTC, WTTCL and KCL (herein collectively referred to as “the vendors”) and Harry Rambarran (hereinafter called the owner) entered into an agreement with Aurelius Inc (Aurelius).
By clause 2 of the said agreement, the first named defendant agreed subject to the terms and conditions set forth in this agreement to pay to Harry Rambarran as the purchase price for the said shares the sum of US$ 2,800,000.00.
By clause 3 of the said agreement, the firstnamed defendant agreed to pay to Harry Rambarran a deposit of US$280, 000.00 as money paid in earnest for completion of the agreement by the first named defendant.
The balance of the purchase price of US$2, 520, 000.00 “shall be paid by the first named defendant not later than 12 months after the date of signing of the agreement”.
By August, 2005, seven months after the agreement was executed, the firstnamed defendant was in arrears of payment of principal and interest on promissory note in the sum of US$508,301.98.
Failure to pay the principal and interest on the due date of the said note, the whole amount remaining unpaid shall become due and payable.
The court was also asked by the plaintiff to issue injunctions restraining the defendants, their servants, agents, directors, officers, whosoever, howsoever, or otherwise from contacting any debtors, suppliers, creditors of the plaintiff or directing employees or conducting any business transaction in the name of or on behalf of the plaintiff.
An injunction restraining the defendants, their servants, agents, directors and officers from entering the plaintiff’s offices and/or building situated at Coldingen, East Coast, Demerara.
Lawyers representing the plaintiff are Rex McKay, SC, Neil Boston, and Britina Glasford.
