Two lawsuits have been filed against a local developer, one involving money a claimant alleges they are owed and a second involving a property foreclosure.
Developer Lewis M. Ebanks and his company Mirage Development Ltd. were named in a writ of summons filed May 27 with the Cayman Islands Grand Court.
The writ, filed by local businessman Marcus Cumber, states that neither Mr. Ebanks nor the company had paid the principal sum of the loan – $200,000 – that was due in mid-February.
The second writ, filed by Scotiabank & Trust [Cayman] Ltd., seeks to claim personal property owned by Mr. Ebanks in the exercise of legal powers the bank holds for a charge on the property and states that the bank is “at liberty to sell the charged property by public auction or private treaty.”
Mr. Ebanks was contacted for comment by the Cayman Compass late last month in regard to both actions. He confirmed that both actions related to him and that he hoped both would be settled out of court in the near future. He further confirmed the writ filed by Scotiabank was in relation to a home he owns in Spotts.
Contacted again Tuesday, Mr. Ebanks did not make further comment for publication.
With regard to the writ filed by Mr. Cumber, it is alleged that a $200,000 loan was paid to Mirage Development Ltd. on Dec. 4, 2015.
The writ states that on Feb. 15, 2016, “in breach of the agreement” Mr. Ebanks “failed or refused to pay the sums due.”
“To date of issue of this writ, the sums as due and owing remain unpaid,” the documents state.
The writ filed by Mr. Cumber seeks the principal loan amount and repayment of all interest due.
The Scotiabank writ states its claim that Mr. Ebanks or any other defendant of the property deliver up possession of it “forthwith.”
Alternatively, the writ seeks that the bank’s agents be given reasonable access to the Spotts property for surveyors and prospective purchasers to access it.
Other separate legal action was filed against the developer earlier this year. In February, a lawsuit seeking more than $650,000 from Mr. Ebanks and one of his companies was filed by A. L. Thompson Building Supplies Ltd.
That writ concerns a credit application dating back to October 2003 between Empire Development and its owner and director, Mr. Ebanks. The terms of the deal, according to the writ, were that A. L. Thompson’s “would provide building supplies on credit to [Mr. Ebanks].”
When contacted for comment about that writ, Mr. Ebanks denied all claims made against him and against Empire Development in the lawsuit. The writ says Mr. Ebanks “defaulted” on the terms of payment by June 2012.
The lawsuit alleges that Mr. Ebanks signed a promissory note during the same month which agreed payment of $100,000 on the debt by July 31, 2012 and an additional payment of $150,000 by Aug. 31, 2012. Additional monthly installments “no less than” $20,000 were due starting in September 2012, according to the writ.
Mr. Ebanks said the claims made in the February writ “are wholly incorrect and misleading.”