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Ex-business associates in multi-million legal battle
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Posted on Apr 05 2000
They were all former business associates, helping each other in the management of their investments on the island. After several years of trust and friendship, the relationship has turned into a bitter legal battle.
Businessman Takaharu Komoda filed the civil case against his brother-in-law Hideaki Sawada, Misae Tambo, Hirofumi Nakayama and four other companies held by them, namely Ito Suisan Food Co. Inc., Merci Corp., Ameriana Corp., and Emperor Enterprise Corp.
Three other companies of Mr. Komoda — Jaguar Inc., Japan Enterprise, Inc., and World International Inc., also joined the civil suit.
Superior Court Presiding Judge Edward Manibusan immediately issued a temporary restraining order stopping the defendants from interfering with the management and maintenance as well as the collection of rents of all properties which are now the subject of a multi-million dollar civil suit.
Mr. Komoda used to partially manage the business interest of Ito Suisan since he became good friends with its president and principal stockholder, Misae Tambo. In return for the management, which required maintenance and improvements, Japan Enterprises kept all rents and profits from the various Ito Suisan land and property holdings.
But when Mr. Tambo died, Mr. Komoda’s problem began because he was not in good terms with the wife of his former business associate as well as with Mr. Komoda. Still, the business relationship continued as World International and Japan Enterprises, at the request and with the knowledge of Ito Suisan, invested large sums of money in the renovation of properties owned by Ito Suisan.
In July 1998, Mrs. Tambo and Mr. Nakayama began easing out Mr. Komoda as they sought transfer of Ito Suisan’s properties to a third party. Of course, Mr. Komoda protested since such a scheme would make him a mere tenant of the property in which he had invested so much amount of money. He informed Ito Suisan that he wanted out but demanded that the debts and credits between them be settled.
Mr. Komoda has accused Mrs. Tambo of cheating him on the investments of his companies’ investments in the Ito Suisan properties.
