A US court has rejected a motion to dismiss a lawsuit brought by Global Gaming Asset Management against Enrique Razon, Bloomberry’s CEO.
Singapore.- The conflict between Global Gaming Asset Management (GGAM) and Bloomberry goes on with a US court rejecting a petition by Bloomberry to dismiss GGAM’s lawsuit over wrongful termination. However, a New York court has dismissed GGAM’s lawsuit against several other defendants associated with Bloomberry CEO Enrique Razon, identified as US real estate companies and oil and gas companies.
Bloomberry had made a petition to set aside enforcement of a $296m award from the Arbitration Tribunal when it ended a five-year contract with GGAM after only six months, accusing GGAM of failing to deliver on its commitments. But in September 2019, a Singapore court decided in favour of GGAM, awarding it payments of $175,000 per month.
Last October, the Singapore Court of Appeal dismissed Bloomberry‘s appeal against the court decision in favour of Global Gaming Asset Management (GGAM).
According to Bloomberry Resorts, the New York court update “means that the parties GGAM (as the plaintiff) and Sureste Properties, Bloomberry Resorts and Hotels, and Razon (as defendants) must produce evidence to support their respective claims or the defence to enforce an arbitral award in the New York court”.
Bloomberry has previously said that if GGAM files a lawsuit to enforce the US$296.6m ruling in the Philippines, where its physical assets and operations are located, its subsidiaries “will oppose such enforcement based on applicable Philippine law.”