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CDA wants to seize ex-first lady’s shares of stocks in 2 companies
The Commonwealth Development Authority is seeking a court order to authorize it to seize the property of former first lady Matilde V. Guerrero and the estate of late governor Lorenzo Iglecias De Leon Guerrero to satisfy a $1.3 million judgment, including interest and penalties.
CDA, through counsel Jennifer Dockter, asked the Superior Court to issue a writ of execution allowing it to seize Matilde Guerrero’s and the estate of Lorenzo Guerrero’s shares of stock in Saipan Stevedore Co. Inc. and in Saipan Shipping Co. Inc.
Lorenzo Guerrero, through estate administrator Matilde Guerrero, holds 10.58 shares in Saipan Stevedore Co. Inc. Matilde Guerrero has 10.4285 shares in Saipan Shipping Company Inc.
In her affidavit in support of CDA’s application for writ of execution, Dockter said that, on April 29, 2011, a deficiency judgment was granted in favor of CDA and against Matilde Guerrero and the estate of Lorenzo Guerrero in the total amount of $853,274.42.
Dockter said the defendants have failed to satisfy the judgment. Court records show that CDA extended a direct $122,129.42 loan to the Guerreros with 9 percent interest.
