2 plane crash survivors claim Dynasty owes them $1.3M

Two plane crash survivors are claiming that Hong Kong Entertainment (Overseas) Investment Ltd., owner of Tinian Dynasty Hotel & Casino, owes them at least $1.3 million for breaching their settlement agreements.

Attorney Richard W. Pierce, counsel for survivors Dr. Jun Takimoto and Tomoyuki Nagata, filed on Friday a motion asking the U.S. District Court for the NMI to enforce terms of their settlement agreements.

According to Pierce, as of Feb. 2, 2016, HKE owed the Takimoto family and Nagata $714,612.33 and $547,198.71 in principal debt and interest respectively.

Takimoto and Nagata moved the court to issue an order prohibiting HKE from the sale or transfer of its personal property, except in the normal course of business, such as in sale of food items to customers.

Pierce said his clients believe that the better way to proceed is through a freeze on sale/transfer and then hearing as soon as possible on how best the judgment may be paid.

By that procedure, the lawyer said, his clients are protected and the least disruption occurs to the operations of the Tinian Dynasty Hotel & Casino.

Takimoto and Nagata were among the seven passengers of a Piper Cherokee aircraft that crashed on a farm in Upper Dandan en route to Tinian on Aug. 11, 2006.

HKE settled the lawsuits filed by the survivors, including one filed by Takimoto and his family and Nagata. The court subsequently dismissed the lawsuits in February 2010.

In dismissing the lawsuits, the court ordered that it “shall retain jurisdiction to enforce the terms of the settlement agreement should the need arise.”

Pierce said the need has arisen, and that Takimoto and Nagata request that the court enter a judgment against HKE for the full amount due and owing to the plaintiffs.

Pierce said in April 2008, Tinian Dynasty ceased making payments on the agreements and the plaintiffs sued for torts and for breach of contract.

Tinian Dynasty settled the lawsuit and amended the initial settlement agreements.

Pierce said HKE has breached the settlement agreements in multiple ways.

The lawyer pointed out that payments were not made for the months of January and February 2016.

He said second, HKE filed for bankruptcy and third, the U.S. government seized assets from HKE, which assets were subsequently forfeited to the U.S.

Pierce asserted that the debts under the Takimoto and Nagata agreements are therefore accelerated with the entire amount now due and owing.

He said the settlement agreements are in Japanese yet payments are made in U.S. dollars.

Pierce said as of Jan. 28, 2016, the principal debt to the Takimoto family equaled 84.8 million yen and 1.4 million yen in interest, which accumulates at 10 percent per annum.

Pierce said at the Feb. 2, 2016, rate of one U.S. dollar to 120.60 yen, the amount in dollars as of Feb. 2, 2016 is $714,612.33.

At the current debt, the interest is 23,235.98 yen per day.

With respect to Nagata, Pierce said as of Jan. 28, 2016, the principal debt equaled 64.9 million yen and 1.0 million yen in interest, which accumulates at 10 percent per annum.

Pierce said at the Feb. 2, 2016 rate of one U.S. dollar to 120.60 yen, the amount of dollars as of Feb. 2, 2016 is $547,198.71.

At the current debt, Pierce said, the interest is 17,792.49 yen per day.

The lawyer said in addition, through Oct. 15, 2016, HKE owes Nagata 200,000 yen per month plus 10 percent interest if not paid timely.