(CMR) Businessman Shyam Ebanks has been granted leave to defend a claim by former business partner Dr. Stephenson Tolimson (Dr. T) that he owes him just over CI$127,000 on a promissory note dated 31 July 2018.
According to court documents, the loan was granted with an interest of 2.5 percent per annum for a term of five years, and included legal fees. Dr. Tomlinson filed a lawsuit against Ebanks last year, claiming he failed to honor the terms of the promissory note. Ebanks reportedly paid back $19,160.53 between October 2018 ad March 2020.
However, Ebanks, managing director of Let's Eat and NCI Freight & Logistics Limited, claims that there are disputed questions regarding the promissory note and that the court could not determine with confidence the Plaintiff's claims.
In addition, all the money was not paid over to Ebanks but to a contractor. However. Dr. Tomlinson said the money was paid over on Ebanks behalf. According to court documents, Ebanks said, “Contrary to the allegations made in the statement of claim, the Plaintiff did not advance all the funds directly to me, nor at the time alleged, pursuant to the promissory note dated 31 July 2018.”
He further stated that “some of the funds alleged to have been lent to me under the Promissory Note were actually paid by the Plaintiff directly to a certain contractor for the renovation of an office space for the mutual benefit of Tomlinson Printing Limited t/a PrintTek,(“PrintTek”) and NCI Freight & Logistics Limited. (“NCI”).
Ebanks also claims that “The Promissory Note does not reflect a subsequently agreed amendment of the sums due to apportion those costs between PrintTek and NCI and that the calculations of interest set out in the statement of claim are incorrect.”
” In hindsight, I believe that I was improperly pressured into entering into the Promissory Note due to my personal financial circumstances arising from the Plaintiff's refusal to fund PrintTek as originally contemplated.”
Dr. Tomlinson believes there is no defense to his claim on the promissory note and asked the court to refuse to grant Ebanks an extension to file his defense to the claim.
However, Justice Marlene Carter granted leave for Ebanks to defend the claim with the condition that he pay into court the amount equivalent to 67.74% of the amount due under the Promissory Note with interest, at February 07 2023, CI$82,138.57.
Ebanks was also required to pay into court a sum equivalent to 67.74% of the assumed reasonable attorney's fees. The sum to be paid into court is C1$ 22,495.78.