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Sunday 25 August 2019
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Contractor ordered to repay $300k loan

A contractor from south Trinidad has been ordered to immediately repay a $300,000 loan he took from another businessman in 2014.

If he does not receive the money soon, he is open to levy on the contractor's assets to clear the debt.

On April 16, Justice Avason Quinlan-Williams ordered the contractor to repay the money to Aindranarth Dhanram.

Khan appealed and asked for a stay of the judgment but this was refused last week by Justice of Appeal Nolan Beraux.

Beraux held that Quinlan-Williams' assessment was impeccable and that the contractor did not have a real prospect of succeeding in his appeal.

According to the evidence in the case, Dhanram claimed that between 2010 to 2014, he loaned the contractor $150,000. He said in 2014, he again loaned the contractor $310,000 with a promise to repay the money within a year at a rate of 10 per cent interest.

The contractor did not repay the money within the period and requested a year extension.

Dhanram gave him the extension but he still did not repay the debt. Dhanram filed a claim in the court seeking to get back $372,000 which represented the principal plus two years' interest.

In his defence, the contractor claimed he was the one who was loaning Dhanram money.

Quinlan-Williams rejected the contractor's defence, saying it was illogical and mathematically incomprehensible.

"The defendant's account sounded foolish. This was a rouse to explain why he wrote a cheque to the claimant in July, for $150,000," Quinlan-Williams said.

"The entire conundrum created by the defendant's circuitous tale was resolved by an application of common sense and logic to the evidence," she said.

The contractor was also ordered to pay $60,000 in Dhanram's legal costs.

Dhanram was represented by Anand Ramlogan, SC, Alvin Pariagsingh, Vishaal Siewsaran and Chelsea Stewart. The contractor was represented by Mustapha Khan and Kristin Khan.

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