Anne Squires denies loan claim in lawsuit

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

• Yacht's up: judge orders boat to drydock until Anne Squires ownership snarl resolved

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.

In addition, 51345 Newfoundland and Labrador Inc.has asked the court to declare that it not Squires is the owner of a small yacht at the centre of the lawsuit.

The statement by the company claims it lent Squires $240,000, which was to be paid by July 16, 2015, plus $10,000 in interest.

The statement also claims Squires borrowed another $72,000 on Dec. 10,2015, under a promise to repay it four days later, using the boat, the "Demiss Anne," to guarantee the loan.

The company claims Squires made some paymentsbut still owes $242,000.

Statement of defence saysloan doesn't exist

In a statement of defencefiledAug. 19, Squiresdenies all 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 vessel,and therefore was in no position to use the boat as a loan guarantee.

She also denies any loans were made to her or, if the court decides the loans do exist, that she is not in breach of payment.

"The defendant denies the existence of the said promissory notes (and)the existence of the said loans, and in thealternative if they are found by this honourable court to exist, denies that she is in breach or failed to make payments as alleged," reads the claim.

The claim also saysif the court determines the loans exist that the interest stipulated "constitute an illegal and criminal rate of interest" and are therefore not payable.

Squires' statement of defence asks that thelawsuit be dismissed.

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