Weekend Report | The Freeport News | PDF Online Guide

Monday, July 6, 2009

Home National Sports Business Lifestyles Religion Arts & Culture Pulse Spice Editorial letters Opinion Foodie Sportscope Real Talks Weekend Report PDF's Classifieds Contact About Us Archive Weather

Letters | Opinion | Editorial | Weekend Report
FOODIE SPORTS SCOPE REAL TALKS
Port sues Sir Jack Hayward's son By CANDIA DAMES ~ Guardian News Editor ~ candia@nasguard.com: A company owned by Port Group Limited has taken legal action against Rick Hayward, the son of Port owner Sir Jack Hayward, seeking to recover the $229,760 he reportedly owes in rent for his Port Lucaya restaurants. According to a statement of claim filed in the Supreme Court on behalf of Bourbon Street Limited, the company made several repeated demands of Rick Hayward to pay the arrears, including a formal demand letter dated April 29, 2009. The court document said that to date, Hayward has failed or neglected to pay the money he owes Bourbon Street Limited for rent of facilities for The Pub at Port Lucaya, La Dolce Vita and East Restaurant. After he was locked out of his commercial spaces late last week, Hayward admitted to The Nassau Guardian that he had failed to pay rent for eight months because Bourbon Street had refused to hear his concerns over what he claimed had been a substantial increase in rent. "I'm very happy to pay rent as long as it's fair and sensible," said Hayward, who claimed the rent had doubled in five years. According to the statement of claim, Hayward entered into an agreement with Bourbon Street Limited on April 1, 2004 for the rental of the spaces in Port Lucaya to operate The Pub at Port Lucaya Restaurant and La Dolce Vita. It added that he entered an agreement with Bourbon Street Limited on December 1, 2007 for the rental of space in Port Lucaya to operate East Restaurant. The statement of claim said that the terms of both agreements were memorialized in writing, but never executed by the defendant (Rick Hayward's company, LDV Limited). The unexecuted documents provided for the monthly payment of $20,000 for the spaces occupied by The Pub at Port Lucaya Restaurant and La Dolce Vita, and the monthly payment of $8,720 for the space operated by East Restaurant. Each agreement also provided for an interest rate of one-and-a-half percent per month to be levied on any arrears of rent. The statement of claim said both lease agreements were forwarded to LDV Limited for execution, but were never executed and were returned to Bourbon Street Limited. "Despite the leases not being executed the defendant (LDV Limited) took possession of the units in accordance with the terms of the unexecuted leases and began making monthly payments to the plaintiff (Bourbon Street Limited) in accordance with the unexecuted leases and to date remains in occupation of the units," the statement of claim said. According to the document, the $229,760 in arrears covers the period September 1, 2008 to June 1, 2009. When he spoke to The Nassau Guardian last week, Hayward said he hired 75 employees. Port Group Limited issued a brief statement that same day, indicating that it had been fair in its dealings with all tenants. "With respect to the 'lockout' of a tenant at the Port Lucaya Marketplace, it is important to share that we have worked with all tenants, and given significant opportunities for payment plans to be arranged. Unfortunately, regardless of the economic conditions, whether times were good or bad, some tenants chose not to honor their contractual obligations," the statement said. "We have worked with and assisted all tenants who have made arrangements with us. We believe in fair play, and have displayed this by our actions. Every tenant has been given the same opportunity." The Hayward and St. George families, which own the Grand Bahama Port Authority and affiliated companies, spent more than two years in and out of court fighting a bitter ownership dispute. Even though there are multiple appeals outstanding, Rick Hayward said the families have mended their broken relationship. But he said his relationship with his father remains strained as Sir Jack continues to support Hannes Babak as chairman, something the younger Hayward called a mistake. Wednesday, July 1, 2009