The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The National Insurance Board’s (NIB) chairman is being sued for almost $400,000 by two partners and a lender over payments related to a Freeport commercial development in which he is a shareholder, court documents have revealed.

A generally endorsed writ filed against Gregory Moss, an attorney and PLP MP for Marco City, alleges that he has failed to repay Ronald Sweeting and Delisa Duncanson, his fellow shareholders in The Siboney Commercial Centre, $91,781 each.

The duo, who are represented by Graham, Thompson & Co, are claiming that they both advanced the funds - totalling more than $183,000 - on Mr Moss’s behalf to cover his share of the mortgage payments owed to FirstCaribbean International Bank (Bahamas) by Adventurer’s Way Holdings.

The latter entity is the holding company that owns The Siboney Commercial Centre, and Tribune Business understands that more legal documents are set to be filed in the case by both parties imminently.

The writ also alleges that Mr Moss has failed to repay $200,000 to a third party, A. R. K. Investments, which was advanced on his behalf - and request - to an entity called Keystone Development Company Group Ltd. The latter company, Tribune Business understands, is the contractor that built The Siboney Commercial Centre, with the $200,000 payment allegedly related to sums owed for construction services.

The legal documents detail that Messrs Sweeting and Duncanson are suing for repayment of their respective $91,781, which they advanced “on behalf” of Mr Moss to FirstCaribbean International Bank (Bahamas).

They both described the sums as Mr Moss’s “portion of the shareholders’ contribution required to satisfy the monthly mortgage payments owed by Adventurers way Holdings, doing business as The Siboney Commercial Centre, over the period August 2010 to date”.

It was alleged that the payments were made on Mr Moss’s behalf subject to an oral agreement with the other shareholders.

In the case of A. R. K. Investments, it alleged that it again advanced the $200,000 on behalf of Mr Moss, and at his request, to Keystone Development Company Group.

This was “in partial discharge” of Mr Moss’s obligation under a March 2010 promissory note, which was executed by himself and Mr Sweeting in favour of Keystone Development Company Group.

Despite repeated attempts to contact him on this and other matters yesterday, Mr Moss was said to be in meetings and did not return The Tribune’s request for comment.