Anne Squires denies loan request in lawsuit


In a new defense against civil action, Anne Squires denies owing any money to a company suing her.

In April, a St. John’s-based numbered company sued Squires, the owner of Exit Realty on the Rock, which collapsed earlier this year, for $ 242,000, the amount the company claims Squires owes it. .

Additionally, 51345 Newfoundland and Labrador Inc. has asked the court to declare that it – and not Squires – owns a small yacht at the center of the lawsuit.

The company’s statement claims that it loaned Squires $ 240,000, which was due to be paid by July 16, 2015, plus $ 10,000 in interest.

The statement also claims that Squires borrowed an additional $ 72,000 on December 10, 2015, under a promise to repay it four days later, using the boat, the “Demiss Anne,” to secure the loan.

The company says Squires made some payments but still owes $ 242,000.

Defense says loan doesn’t exist

In a defense filed on August 19, Squires denies all of the claims made by the company. She denies being the owner of the boat, that there are two other people who “claim an interest” in the boat, and was therefore unable to use the boat as loan collateral.

She also denies that any loans were made to her – or, if the court decides the loans exist, that she is not in default.

“The defendant denies the existence of said promissory notes (and) the existence of said loans, and in the alternative, if they are found by this honorable court, denies that it is in violation or has not made the payments as alleged, “the statement read.

The request also states that if the court determines that the loans exist, the interest stipulated “constitutes an illegal and criminal rate of interest” and is therefore not payable.

Squires’ defense requests that the lawsuit be dismissed.

Squires and Exit Realty on the Rock are under criminal investigation by the Royal Newfoundland Constabulary. No charges have yet been laid.


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