18 May 2018
- By Bryan Manabat – [email protected] – Variety News Staff
LIEUTENANT Gov. Victor Hocog has no objection to investor Takahisa Yamamoto’s dismissal of claims against him.
Hocog, through his legal counsel F. Randall Cunliffe, filed a notice of non-objection to Yamamoto’s motion to dismiss, without prejudice, in the District Court for the NMI on Thursday.
Yamamoto, who invested more than $3 million in the MV Luta, a cargo vessel, will no longer pursue litigation against Hocog and its registered owners: Luta Mermaid LLC, Abelina T. Mendiola, Deron T. Mendiola, Fidel S. Mendiola III, Fidel Mendiola Jr.
Represented by George Lloyd Hasselback, Yamamoto sued them for fraud, breach of contract and unjust enrichment. He said it was Hocog who encouraged him to invest in Rota. He added that Hocog assured the investor that he would be well looked after in his business dealings on Rota.
In Dec. 2017, the federal court ruled that Yamamoto was involved in a joint venture with the Mendiolas who filed counter-claims against Yamamoto, alleging breach of fiduciary duty and violation of good faith and fair dealing.
Source: Marianas Variety : http://www.mvariety.com/cnmi/cnmi-news/local/104525-hocog-no-objection-to-dismissal-of-yamamoto-lawsuit