RED Coral Corp., doing business as Camille’s Gardenia, and Imperial Pacific International LLC have informed the federal court that they have reached a $150,000 settlement to settle their rental dispute.
A stipulation for judgment was submitted to the court on Wednesday.
Red Coral, represented by attorney Colin Thompson, and IPI, represented by attorney George Hasselback, signed the stipulation.
According to the stipulation, Red Coral and IPI agree that judgment may be entered in favor of the plaintiff against the defendant for the total sum of $150,000 with interest at a rate of 9% per annum.
On July 15, 2016, Red Coral leased 20 apartment units to IPI for a term of three years ending on Sept. 1, 2019.
IPI failed to pay any rent for the months of January through August of 2019, Red Coral stated.
“When Red Coral inspected the apartment units it was discovered that much of the appliances and other property of Red Coral were either missing or destroyed. IPI’s failure to pay rent and repair damage it caused to the premises is a breach…of the lease,” the plaintiff added.
Red Coral stated, “IPI breached the lease agreement by failing to pay rent and destroying or taking furniture, fixtures, and other property belonging to Red Coral when it vacated the premises.”
In its lawsuit, Red Coral said it “sent several demand letters as well as a demand to arbitrate. IPI has not responded to any of these demands.”
