Mares responds to CEC allegations

On June 6, the Cayman Compass published a story based on a Grand Court writ filed by Cayman Enterprise City (CEC), alleging that former client Gary Mares was personally liable for US$78,000 in unpaid rent.

Since then, in emails to the Compass, Mr. Mares has disputed that claim by CEC, saying the agreement in question was not between CEC and himself, but between CEC and special economic zone company Rio Dorado Limited (of which Mr. Mares is joint managing director).

Filed May 25, the writ of summons lists CEC as the plaintiff and Mr. Mares as the defendant. The writ refers to an agreement dated March 31, 2016 to rent an office at the CEC Gateway location for an annual fee of US$49,250.

Mr. Mares said there did exist a March 31, 2016 license between CEC and Rio Dorado Limited, but that “original license was superseded after serious shortcomings in represented service standards of CEC.”

He said the original license was replaced by a new license commencing on June 1, 2016. Neither license, Mr. Mares emphasized, named him as a personal party or guarantor. Each license was executed between CEC and the company entity, Rio Dorado Limited, he said.

“At no time was I a party (in a personal capacity) to any such agreement with CEC, nor a guarantor of the liabilities of a limited liability company licensee,” Mr. Mares said.

Mr. Mares said there was a commercial dispute between CEC and Rio Dorado Limited that the parties were unable to resolve. Rio Dorado Limited has since been deregistered as a legal entity, he said.

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