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Court orders Quichocho, Atalig to pay investor $192K
The federal court issued yesterday a judgment, holding lawyer Ramon K. Quichocho and his uncle, Joaquin Q. Atalig, liable to pay $192,328.04 to investor Sin Ho Nam who sued them for allegedly deceiving him to settle a previous lawsuit.
According to the judgment signed by U.S. District Court for the NMI Clerk and Magistrate Judge Heather Kennedy, the court ordered Nam to recover the amount from Quichocho and Atalig, without pre- and post-judgment interests.
Kennedy said that U.S. District Court for the NMI Chief Judge Ramona V. Manglona decided on Nam’s motion for enforcement of the settlement agreement.
Nam previously sued Quichocho and Atalig for breaching a land lease agreement when they terminated a 55-year lease less than two years later, despite having already paid them $218,000.
The parties reached a settlement agreement.
In September 2011, attorneys Colin Thompson and Michael Dotts, counsel for Nam and Quichocho respectively, moved to dismiss all claims and counterclaims after they reached the settlement.
The following month, Manglona dismissed the lawsuit following the parties’ settlement deal.
In August 2012, Nam filed a new lawsuit against Quichocho and Atalig for allegedly deceiving him in settling his previous lawsuit by promising to pay him $228,000 within 160 days.
Nam said the defendants have paid him only $16,800 against their contractual obligation and the express term of the settlement agreement.
The parties again reached a settlement agreement.
Last March 28, a federal court jury awarded businesswoman Jung Ja Kim $2.4 million in connection with her racketeering lawsuit and other claims against Ramon Quichocho, his law firm, his wife Frances, and the couple’s Karissa LLC company.
