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Dynasty sued for allegedly failing to pay $3.1M for furniture, supplies
A Hong Kong-based corporation is suing the owner of Tinian Dynasty Hotel and Casino for allegedly failing to pay $3.1 million in outstanding balance for furniture and supplies that the hotel purchased during its 2013 and 2014 renovation.
3i Corp. Limited, through counsel Rexford C. Kosack, filed the lawsuit against Hong Kong Entertainment (Overseas) Investments Ltd. for breach of contract.
3i Corp. asked the Superior Court to hold HKE liable to pay $3,053,779.80 in contract damages, plus attorney’s fees and court costs.
Saipan Tribune yesterday tried but failed to get comment from Tinian Dynasty.
3i Corp. supplies furniture and interior decoration and design services to customers in the United States.
Kosack said that, on Nov. 27, 2013, plaintiff and HKE entered into a written contract for the refurbishment of Tinian Dynasty’s guest rooms on the 5th and 6th floors.
Kosack said the contract amount of $3,250,000 is for indoor furniture.
The lawyer said that, on Oct. 3, 2013, plaintiff and HKE agreed upon a purchase order for outdoor furniture at a cost of $279,955.
Kosack said HKE ordered furniture and supplies for an additional 20 standard rooms and 22 executive suites.
Kosack said by mutual agreement, this increased the dollar value of the transaction from $3,529,955 to $4,853,779.80.
The lawyer said his client performed all of its obligations under the contract, the purchase order, and the additional order between Dec. 7, 2013 and Oct. 14, 2014.
Kosack said HKE has paid a total of $1,800,000 of the sum and still owes 3iCorp. $3,053,779.80.
Kosack said that, on Oct. 2, 2015, plaintiff provided an account statement to HKE, which acknowledged and confirmed such account statement by signing it.
According to court documents, it was HKE chair Michael Kwan and 3i Corp. Limited director Chen Chieh Yeh who signed the supply agreement.
The lawyer said under the contract’s payment terms, a 30 percent cash deposit was required on or before Dec. 31, 2013, with the remaining amount due within 75 calendar days after issuance of an invoice.
The last invoice was issued on March 14, 2014.
Kosack said more than 75 calendar days have passed since that invoice and final payment has not been made.
