Superior Court Associate Judge Joseph N. Camacho is willing to entertain Vincent DLG Torres’ motion to clarify his decision that dismissed the lawyer’s claims in his lawsuit against E-Land World Ltd. and others.
Camacho issued a notice yesterday of his willingness to hear the issue after Torres filed a motion last Dec. 4 to ask the Superior Court for a determination whether or not it will entertain his request for clarification.
Following the judge’s notice, the next step is for Torres, through counsel William Fitzgerald, to request that his appeal be stayed or suspended in the CNMI Supreme Court and then remand the case to the Superior Court.
Last Aug. 26, Camacho ruled that Torres lacks standing to maintain claims for corporate harm as direct actions as such claim must be brought derivatively, regardless of the size of the corporation. Camacho dismissed Torres’ claims in his lawsuit.
A derivative action refers to a lawsuit brought by a shareholder of a corporation on behalf of the corporation to enforce or defend a legal right or claim.
Last Sept. 23, Torres, through Fitzgerald, filed a notice informing the Superior Court that he plans to appeal Camacho’s dismissal order to the CNMI Supreme Court. Torres sought a reversal of that dismissal.
The following day, Sept. 24, Torres filed a motion that seeks clarification whether the dismissal of the three claims is with prejudice or without prejudice and whether he will have an opportunity to file an amended complaint.
Dismissal with prejudice would bar Torres from re-filing the claims, while dismissal without prejudice would allow him to re-file them.
Since Torres had already appealed the dismissal to the CNMI, Camacho ruled that the trial court no longer has jurisdiction to address Torres’ motion for clarification—a ruling that the CNMI Supreme Court deemed correct last Nov. 15, that Camacho no longer has jurisdiction to entertain Torres’ motion.
Associate Justice John A. Manglona said the proper procedure was for Torres to request a stay or suspend the proceedings in the high court pending Camacho’s indication of his inclination to grant the motion for clarification, and then move to remand.
Torres is suing E-Land World Ltd. and several others for allegedly failing to provide a proper accounting, embarking upon a scheme to misappropriate business opportunities and funds, and negotiating loans over $5 million without proper authorization.
Named as defendants in the lawsuit are E-Land World Ltd., Suwaso Corp., Micronesian Resort Inc., Jong-Ho Roh, Seong Min Kang, Ik Kyu Kim, Tae Ho Kim, Steve Hwang, Dennnis Seo, and three unnamed co-defendants.
Torres remains a minority shareholder of Suwaso stock, holding a 15% ownership interest, according to court records.
E-Land is the majority shareholder of the Coral Ocean Point Golf Resort. Suwaso Corp. owns the golf resort.