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DETAILED TIMELINE OF MAJOR EVENTS
ORIGINAL METAXIDES LAWSUIT (2006) APPLICATION FOR JOINDER (2010) LAWSUIT AGAINST CONSENT ORDER (2010) APPEAL OF JUDGMENT (2012-2013) SECURITY OF COSTS OF APPEAL (2012) APPEAL TO PRIVY COUNCIL (2013)
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CURRENT STATUS Summary: All litigation against Silver Point has ended. On May 2, 2013, the Court of Appeal by unanimous verdict of the three judge panel, ruled against Silver Point and Metaxides, and in favor of the Appellants, with SPCA and Metaxides Ordered to pay all costs of the litigation. Costs will be payable immediately upon completion of Taxation, scheduled to begin May 2014. The illegal Consent Order has been declared null and void from inception and removed from the record. The original Metaxides action has been declared a nullity from inception and extinguished. Metaxides has been Ordered to repay the $25,000 to Silver Point that was gifted to him by the BoD in the Consent Order. Owners rights have been restored and the Declaration of Condominium once again is the governing document by which Silver Point is managed. At this point, the matter is entirely in the hands of the BoD and the Owners of Silver Point. The only options remaining are to either continue with the litigation to the Privy Council, or to withdraw the application to Privy Council and end all litigation at Silver Point. Silver Point and Metaxides have already initiated additional litigation by Appealing the matter to Privy Council, and the original Plaintiffs (now the Respondents) are prepared to defend. Details: The trial to determine whether the Consent Order is indeed illegal and to have it permanently removed from the record was completed on November 10, 2011 after 3 1/2 days of litigation. Judgment was issued on March 16, 2012, in favor of the defendants. An Appeal was filed on April 25, 2012, and amended on August 9, 2012, challenging 34 different points of law on which Justice Longley erred in his judgment. On May 2, 2013, The Court of Appeal, by unanimous decision of the 3-judge panel, overturned the judgment of Justice Longley after hearing only 1 of the 34 points of Appeal and awarded all costs to date to the Appellants. On June 11, 2013, The Court of Appeal Ordered that the Appellants should pay no part of Silver Point's costs. On January 13, 2014, The Court of Appeal Dismissed Objections by SPCA and Metaxides to beginning taxation of costs, awarding all costs of the objections to the Appellants. A Bill of Costs of $106,871.91 has been filed by Callender's & Co. Costs of the objections paid to Gail Lockhart-Charles have not been disclosed. On March 31, 2014, The Court of Appeal Dismissed Objections by SPCA and Metaxides to filing the final Judgment Order, expressly Ordering that the Consent Order be Set Aside and that Metaxides must repay the $25,000 to Silver Point. The Board of Directors of Silver Point has filed an Appeal with the Privy Council, as has Metaxides. This matter is expected to take 1-2 years. Costs have been ordered to be paid to the Plaintiffs. The Board of Directors estimates that they have so far incurred $1,700,000 in legal fees, which they allege should be paid by the condominium owners and not by themselves personally, citing the lack of objection to their policies by the ownership. NEXT STEP Silver Point and Metaxides have filed an Appeal to Privy Council, and within about a year the date of filing, the matter will likely be heard, with a decision coming 2-3 months after. It may be some 2 years before the matter is concluded. If the Privy Council upholds the Ruling of the Court of Appeals, the matter is finalized. Costs of the Privy Council will be awarded to the Appellants, payable by SPCA and Metaxides, likely due 2-3 months after the decision. If they overturn the Ruling of the Court of Appeals, the matter will return to the Court of Appeals to hear the other 33 points of Appeal, any one of which will result in the Appeal still being upheld. Meanwhile, Callender's has filed a bill of costs, which upon the completion of taxation hearings, will be due and payable by Silver Point owners and Metaxides, regardless of the actions in the Privy Council, as a Stay was denied by the Court of Appeal. SPCA and Metaxides will also have to pay their own attorney's fees in addition to those of Callender's. Silver Point does not have this kind of money available so a Special Assessment will need to be levied on owners. Taxation hearings are set to take place in May 2014 before the Supreme Court. IN THE NEWSFar-reaching '6 Percent Minority' Condo Battle - (July 14, 2011, Bahamas Tribune) MORE INFORMATION See our Frequently Asked Questions for more
information about how your rights and your finances may be affected
by the outcome of the action. Anything you don't see, you are
always welcome to ask
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