Maroc - NEWSDAY.CO.TT - A la Une - 25/Aug 07:35

MovieTowne granted injunction against landlords

A HIGH Court judge has issued a late-evening injunction preventing the Port of Spain Infrastructure Development Company (POSINCO) from communicating with tenants of the MovieTowne multiplex, entertainment and commercial centre at Invaders Bay, Port of Spain. Justice Eleanor Donaldson-Honeywell granted the injunction late on August 24. It remains pending the hearing and determination of Trinbago Commercial Development Co Ltd's (TCDC) claim. A hearing has been set for August 26 after the POSINCO is served with the claim. POSINCO is the manager for the Port Authority of TT's (PATT) real-estate holdings. Attorneys for the TCDC approached the court for injunctive relief after the POSINCO took control of MovieTowne’s office and  banquet hall on August 23. The TCDC’s claim contends $5.3 million as unlawfully/mistakenly paid under duress/threats/compulsion and is asking the court to declare this as well as order POSINCO to repay the sum as restitution. Several other declarations are being sought related to its lease at Invaders Bay. The TCDC is represented by Deborah Peake, SC, Ravi Heffes-Doon and Andre Rudder. The company is also seeking another injunction to prevent the POSINCO from taking possession of the 9.94 acres of land it occupies at Invaders Bay. In support of the application – which was heard without a hearing from POSINCO – TCDC’s director Hayden John Gadsby said the $10,904,121.23 quoted by POSINCO as rent owed was invalid and the figure is much less than the PATT contends. He said on August 22, the PATT’s attorneys agreed to determine the rent issue in court and not arbitration, as provided for in the lease. He said there was an acknowledgement of a dispute on the rent owed yet on August 23, POSINCO took possession of part of the premises. Gadsby said the PATT wrote to TCDC’s tenants, asking them to sign an agreement creating a sub-tenancy arrangement. He quoted the contents of a report on the rental amount but said it was “irrationally high.” He said a proper review should be done but acknowledged TCDC was bound to the agreed rent of $4.80 per square foot, which was agreed to in 2013. He also said when the land was first leased, it was covered in bush and subject to water retention, as it was mangrove lands, but the report valued parcels of land already fully developed. Gadsby said on August 2, the PATT threatened to take possession of the premises based on the figures provided in the report at $7.85 per square foot or $3.4 million a year. He also said “spurred on by demands and threats” and under the mistaken assumption the rent report was binding, TCDC made three payments of $2.3 million and $2.8 million in 2020 and $123,906 in 2021. He gave a history of the discussions with the POSINCO, which also included securing a retired Appeal Court judge to arbitrate on the rent dispute, and also gave an account of Friday’s “takeover.” “In the present economic climate there is reduced consumer spending. The commercial challenges of running a business have increased due to the decline of energy income because of the decrease of gas supplies and gas pricing. This has had a knock-on impact on the economy. "The high-handed and bullying conduct of the Port has created considerable uncertainty around the facility which is likely to cause many to review whether they wish to continue as tenants…” In a release on August 23, the TCDC said it had offered to “settle all outstanding rental sums which are not in dispute and attempted to pay such sums by cheque. The cheque was returned notwithstanding current discussions to settle all matters including disputed amounts." “PATT and POSINCO thereafter attempted illegal and unlawful entry via its private agents. The actions of POSINCO and PATT have been described as unjustified and illegal acts by experienced external legal counsel, who shall shortly commence legal proceedings against PATT and POSINCO inclusive of injunctive relief to ensure redress to TCDC and the protection of its tenants and employees.” TCDC reassured its patrons that the MovieTowne complex continued to be open and its team would spare no effort to ensure their safety and maintain and enhance the premium service levels that families and clients have come to expect and deserve. POSINCO said it had exercised its right of re-entry and had taken possession of the premises leased to TCDC, also known as MovieTowne. “This re-entry exercise was undertaken because of breaches of the terms and conditions of the existing deed of lease between POSINCO and TCDC. The post MovieTowne granted injunction against landlords appeared first on Trinidad and Tobago Newsday.