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BoG sues lawyer for alleged non-payment of $133K loan
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Posted on Jan 24 2006
The Bank of Guam has sued lawyer Antonio M. Atalig for alleged non-payment of loan plus accrued interest in the total amount of $133,207.41.
The BoG, through counsel George L. Hasselback, sued Atalig for breach of contract, unjust enrichment, and conversion.
When asked for comment about the lawsuit yesterday, Atalig described the matter as “not a big deal” and that he is going to “take care of it.”
Hasselback asked the Superior Court to order the defendant to pay the principal amount of $115,904.69 plus $17,302.72 in accrued interest from September 2004 to January 2006.
Hasselback also asked the court to foreclose Atalig’s mortgaged property on Saipan and sell it to pay his debt to the bank.
According to the complaint, the defendant obtained from BoG a loan of $170,000 on Dec. 6, 1995. The loan was secured by a mortgage on Atalig’s real property on the island.
Hasselback said the lawyer is in default on the promissory note because he has failed to make all of the payments.
He said the defendant breached the contract by failing and refusing to pay $133,207.41 as of Jan. 20, 2006.
“Plaintiff has been damaged by defendant’s breach to the extent of $137,013.20 as of Jan. 20, 2006,” he said.
