Headquarters of Ocean Point Terminals, the trading name of Limetree Bay Terminals. By. V.I. CONSORTIUM
Alloy Mechanical is now seeking the intervention of the courts to help the company collect on an almost $4 million debt it says it is owed by Ocean Point Terminals.
Last week, the Consortium reported that multiple liens had been filed against Ocean Point after Alloy said that the energy storage company had failed to pay over $3.8 million in outstanding invoices for work done on a dock at the terminal. At the time, the parties were said to be in negotiations to settle the matter outside of court.
After discussions between Alloy and Ocean Point – the trading name of Limetree Bay Terminals – failed, attorneys for Alloy filed a complaint in the St. Croix Division of the Superior Court last Thursday, seeking permission to foreclose on the liens filed, which encompass 27 properties owned or leased by Ocean Point, as well as the improvements on the dock itself.
Simultaneously to the complaint, attorneys for Alloy also filed a motion asking the court to order the parties into arbitration, staying the proceedings before the bench until the arbitration process has been completed. An accompanying memorandum to support the motion notes that a professional services agreement between the parties makes provision for disputes to be settled by binding arbitration. The civil complaint asking for permission to foreclose, therefore, was merely meant as a way to preserve the debt claims Alloy Mechanical is making against Ocean Point.
Judge Yvette Ross-Edwards will consider the motion and is expected to make her ruling in the coming days.
Alloy subcontractor SafeRack LLC is also seeking permission from the courts to foreclose against Ocean Point in order to recover approximately $66,000 it is owed for work on the dock.
