The former owners of Victoria Hotel in Garapan are appealing to the CNMI Supreme Court the Superior Court’s dismissal of their lawsuit against a Guam bank, from whom they borrowed $1.8 million for the construction of the hotel but they now accuse of not having obtained a full-service banking license in the Commonwealth
Edward L.G. Lizama, as personal representative of former Victoria Hotel owners—the estate of Jesus T. Lizama, Victoria L.G. Lizama, and J&JEV Enterprises Inc.—have notified the Superior Court about their appeal.
The appellants, through counsel Juan T. Lizama, is asking the Supreme Court to reverse Superior Court Associate Judge Joseph N. Camacho’s dismissal of the case last June 14.
In a 23-page decision, Camacho dismissed the lawsuit filed by the former hotel owners, saying the plaintiffs’ claims against ANZ Guam Inc. are based on the same three issues that were finally decided in the U.S. District Court for the NMI action.
ANZ Guam is formerly known as Citizens Security (Guam) Inc.
Camacho said the District Court’s previous decision was final and on the merits.
According to court records, the plaintiffs sued ANZ Guam Inc. in the Superior Court last Aug. 22, alleging a violation of the Commonwealth Consumer Protection Act, wrongful foreclosure under the Commonwealth Debt Collection Act, and breach of contract.
In 1997, defendant ANZ made a $1.8-million loan to plaintiffs and took a mortgage over real property in the CNMI to secure the debt—up to 70 percent of which was guaranteed by the U.S. Department of Agriculture.
Plaintiffs defaulted under the loan documents. ANZ then filed a lawsuit in June 2000 for foreclosure in the Superior Court against plaintiffs.