By Cherrie Anne E. Villahermosa
Variety News Staff

A LAWYER has sued a businessman for not paying debts amounting to $157,000.
David Banes through lawyer George Hasselback filed the lawsuit against Tae Don Kwon in Superior Court.
Tae Don Kwon was sued for breach of contract, unjust enrichment, fraud, misrepresentation and conversion.
Banes is seeking payment of $157,365 plus attorney’s fees, cost on the promissory note plus pre-judgment and post-judgment interest until the sum is fully paid.
He also wants a writ of attachment against the defendant’s interest in the CNMI Downtown Market and the 15 percent of shares in stock in California Overseas Ltd.
Banes, moreover, asked the court to order the defendant to perform the terms and conditions of the note and to turn over to the plaintiff his interest in Downtown Market and his shares of stock in California Overseas Ltd.
The complaint stated that the plaintiff in Jan. 2006 agreed to lend the defendant $120,575 at 10 percent interest.
The complaint stated that Tae Don Kwon agreed to the terms and conditions of the promissory note.
Tae Don Kwon agreed to pledge as security his interest in the inventory and receivables in Downtown Market and his ownership in the shares of California Overseas Ltd. and its related casino license.
The complaint stated that Tae Don Kwon agreed that if he were to be in arrears by more than $7,500, Banes could declare the entire principal due and owing together with interest.
Tae Don Kwon further agreed to pay Banes legal fees if any action was taken against him for being in default.
The complaint stated that Tae Don Kwon made payments totaling $8,860 leaving a balance owing of $157, 365 with interest.
Tae Don Kwon has defaulted on the Nov. 20, 2006 payment under the promissory note and is in arrears by more than $7,500.