Peniston sues former partner over company's collapse
Llewellyn Peniston hit back yesterday.
A writ filed in Supreme Court claimed his one-time business partner, Mr.
Robert Thomson, deliberately caused the downfall of their company, Bermuda Vacations Ltd.
Mr. Peniston's affidavit also charged that Mr. Thomson worked the company "to make me bankrupt'' and to take it over along with its major asset, the cruise boat Reef Goddess .
The suit, which cites Bermuda Vacations Ltd. as the plaintiff, came ten days after Mr. Thomson served Mr. Peniston with a bankruptcy notice.
That action was taken to force collection of $103,379 which the Supreme Court had ordered Mr. Peniston to pay him.
The money represents an $88,000 loan by Mr. Thomson to Mr. Peniston plus $15,000 interest. Yesterday, Mr. Peniston said that action "is being defended.'' Mr. Peniston's affidavit yesterday cites Mr. Thomson as the first defendant and his company, Reef Roamers Ltd., as the second defendant.
It claims Mr. Thomson as director and financial controller of Bermuda Vacations failed to manage in the best interests of the company. It says he overspent the company's money in order to take it over.
Mr. Peniston is seeking compensation for losses caused by Mr. Thomson's "breach of trust'' and return of the Reef Goddess .
Yesterday, Mr. Peniston said: "The records of this case will demonstrate a clear trail of breaches of his duty as a director in respect of this matter.''