(CMR) Cayman Automotive Leasing & Sales Ltd. (CAL) and John C. Felder are being sued by Malcolm Gaskins for a US$138,000 unpaid loans.
The loan was extended to CAL to purchase shares from Gaskins in a company called Premier Automotive Enterprise in June 2018. It was agreed that repayment would be made in full on January 12, 2019, and was personally guaranteed by the second defendant, Felder.
Thus far, Felder has only paid US$1,000 on the loan. According to the Statement of Claim recently filed in the Grand Court between January and April 2019 Felder acknowledged the debt and promised to have the matter rectified. A final demand was made on March 21, 2019, where Felder was served written notice and demand for payment.
The plaintiff seeks US$137,600 plus legal costs and interest. In several separate lawsuits, CMR reported in September 2018 that Felder was also being sued by several other persons for almost $200,000.
Felder reached out to Cayman Marl Road and provided the following statement:
“It is unfortunate that the Litigant decided to scandalize the company on Social Media as my Attorney is in communication with the Litigant's Attorney to resolve the issue. Cayman Automotive Leasing, Sales and Service and Cayman Automotive – Havana is vibrant and continues to operate in a sound manner and I will take advice on the best way to address the scandalous article in the Social Media. Our rapid growth and Global expansion has resulted in some growing pains but when it comes to satisfying our customers, we continue to set the bar high.”