2 lawsuits claim Anne Squires didn't repay loans

The owner of Exit Realty on the Rock is being accused of not repaying loans, in two lawsuits recently filed at Newfoundland and Labrador Supreme Court.

None of the claims made in the lawsuits have been proven in court, and Anne Squires has yet to file a statement of defence to either action.

The lawsuits were both launched last week.

$100K business loan with 32 per cent interest rate

In one lawsuit, Paradise businessman Hantang Li alleges he loaned Exit Realty on the Rock $100,000 in August 2015, at an interest rate of 32 per cent per year.

The court filings claim that Squires personally guaranteed the promissory note backing the loan to the company.

The documents allege that interest payments of $2,666 per month were made until Feb. 4, when that payment was returned for non-sufficient funds.

The plaintiff claims to have made "numerous requests" to Squires to honour the terms of the promissory note, but alleges that no payments have been made on the outstanding principal.

Other lawsuit over personal loan 

In the other lawsuit, Joseph Greene of St. John's claims to have loaned Squires a total of $130,000 over four payments in 2014, plus another $20,000 in December 2015.

According to court filings, Squires has repaid nearly $40,000, with the last payment made in early February.

The plaintiff claims to have demanded repayment of the outstanding loan balance of $110,000, but says Squires has refused those requests.

Company in receivership

The claims made in the lawsuits are more bad news in what has been a bad month for the real estate company and its owner.

Exit Realty on the Rock had its licence suspended by the province on Feb. 4.

The company went into receivership the next day. More than 60 creditors may be owed money.

And Squires herself is under police investigation, for theft, fraud and breach of trust. She is not facing any charges.