Property owner files 60 million dollar lawsuit against the New Building Society
A Charlestown property owner is this evening suing the New Building Society Limited for 60 million dollars following what he claims is the fraudulent sale of the Drysdale Street property belonging to his deceased mother. According to Mark Witter, his deceased mom took out a 2.2 million dollar loan on the property in 1993. He said in 1995 December, when his mother passed away, he and his father approached the bank pertaining to the loan. He said he was told that he had to ensure the loan was paid off as soon as possible so he began making the payments and eventually paid the amount owing in full.
Witter is seeking 50 million dollars for being deprived of his property and repayment of the mortgage payment and 10 million for the loss of the use of the property.
The property is now the center of a court dispute. Just a few months ago five persons including three children perished in a mysterious fire at the disputed building. The origin of that fire is still unclear.
Witter’s Attorney Mortimer Coddett said in June of 1996 the bank obtained from the court a foreclosure before Justice Jagnarine while they knew that Witter had died. Coddett in his Writ is accusing the bank of wrongfully using the foreclosure judgement to sell the property despite receiving the life insurance and payment of his client.
The matter is expected to come up in court on September 4th. Meanwhile the matter involving the ownership of the property is now at the level of the Appeal Court