Post by
onlythetruth15 on Oct 05, 2015 6:16pm
Fredy Ramsoondar Owes $2,688,303.68
Fredy Ramsoondar now has a final number in New York owing $2,688,303.68 to Faunus Group International. The final judgement document is available online.
The Judge asked for submissions to assist in determining the final number after first awarding the $2 million 250 thousand or so after two days of evidentiary hearings this past August. The final number now includes all adjustments plus interest and defines as well the process if Faunus Group International collects any other funds owed from any accounts receivable (unlikely if there are any), they are to be deducted from this total with the remainder amount still coming from Fredy Ramsoondar.
This updated paperwork and dollar amount owed by Fredy Ramsoondar from the courts will be sent to a variety of agencies in Canada to update their files.
Updates on the Alberta case against GPS Security Group Inc and Fredy Ramsoondar submitted for at least $403,000 will be posted as available.
~FINAL JUDGMENT: In accordance with the Court's April 2, 2015 and September 7, 2015 Orders, defendant Fredy v. Ramsoondar is hereby liable to plaintiff Faunus Group International, Inc. in connection with plaintiff's breach of contract claim in the amount of $2,688,303.68, which represents (a) the principal balance of $1,087,774.44 under the parties Guaranty, (b) plus $268,161.62 in interest calculated at the rate of 6.25 percent per annum through September 30, 2015 and $169,439.70 in collateral management fees calculated at the rate of 0.3 percent per annum through September 30, 2015, and $270 in wire transfer fees, and (c) plus $1,162,657.92 in costs and expenses, including attorneys fees, incurred through July 27, 2015. If and only if plaintiff recovers amounts from other legal proceedings before this judgment is satisfied by defendant, then, and only after accounting for additional costs and expenses incurred by FGI after July 27, 2015 for those legal proceedings, the award to plaintiff from defendant shall be reduced by any net recovered amount. Nothing in this Judgment shall be construed to be a condition, requirement, or burden on plaintiff to continue to litigate those legal proceedings or to first collect from any other source before enforcing this Judgment against defendant. SO ORDERED. (Signed by Judge Jed S. Rakoff on 9/30/2015) (ama)