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Ex-hockey player Stéphane Quintal not only lost his case once morest a businessman with whom he had opened a gymnasium at the Canadiens’ training center, but he will also have to pay him $255,000, the Superior Court has ruled. of Quebec.
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“With the opening close to a big-box, low-cost competitor, the deficits [du gym] have accumulated. Mr. Quintal having refused to assume his share of the losses, the club finally went bankrupt in 2020”, can we read in the recent decision of judge André Prévost at the Montreal courthouse.
Since 2019, the former Canadiens defenseman had been embroiled in an acrimonious dispute with his former business partner Leonard Schlemm, a seasoned businessman who long ran the world’s largest fitness chain.
The two men had met 12 years earlier, at the suggestion of former Canadiens CEO Pierre Boivin, to build a gym at the team’s training center on the South Shore.
Photo d’archives Martin Chevalier
The Mansfield Rive-Sud Athletic Club declared bankruptcy on July 13, 2020, amid a dispute between its owners, Leonard Schlemm and Stéphane Quintal.
“Mr. Schlemm tells him not to be interested, can we read in the judgment. Mr. Boivin subsequently suggested that he join forces with a former Canadiens player who would be responsible for promoting it and attracting customers. The name of Mr. Quintal is then proposed by Mr. Boivin.”
Loan of $255,000
Shortly following, Mr. Schlemm and Stéphane Quintal joined forces, agreeing that it was the former number 5 of the Glorious who would take care of the administration of the gym, which opened in 2009. The businessman held 80% of the shares, while the ex-hockey player had 20%.
Except that in 2012, Mr. Quintal got a job with the NHL’s player safety department, to become its vice-president two years later.
“It has the effect of reducing the time he spends on business [du gym]“, is it indicated in the judgment.
Wanting to spend more time with his family in Montreal, Stéphane Quintal finally left his position as vice-president to become an assistant within the department. At the same time, discussions have been initiated to have him sell his shares in the South Shore gym to his business partner. This allowed him to obtain a “bridge loan” of $255,000 to help buy a house in the Outremont district. This loan was repaid by Mr. Schlemm shortly therefollowing.
“Mr. Quintal does not dispute that he owes him the sum of $255,000”, specifies the judgment.
No buyers
An agreement concerning the sale of Mr. Quintal’s shares to Mr. Schlemm was finally concluded, but a little later, the latter also decided to sell his shares. After discussions, the initial agreement was finally modified.
But despite efforts to dispose of the shares, and even though six potential buyers had come forward, no purchase offer was filed.
“The efforts […] continue, without success, until 2020, explains the judge. the [gym] then goes bankrupt.
A dispute over the agreement then ensued. For the ex-CH defender, his ex-business partner had to buy back his shares in the club, worth $832,000. Mr. Schlemm then counterattacked, claiming that he owed nothing to Mr. Quintal because of the original agreement which had been modified, while claiming $255,000 from him because of the repayment of the loan for the purchase of the house in Outremont.
Faced with these two positions, the case went to trial.
“The change that [M. Schlemm] brought to the agreement was carried out in a transparent manner, Mr. Quintal being informed not only of the modification itself, but also of the reasons which motivate it, finally ruled the magistrate. The court concludes that the agreement has been validly modified.
If he wishes, Mr. Quintal has 30 days to appeal this decision.
While cleaning the rapper’s swimming pool, a cleaner was violently attacked in 2018 by Zane, French Montana’s dog. Seriously injured, Juan Lomeli found himself unable to work for a long time. He then took the case to court.
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A dog bite trial took place in California this month. A jury returned a verdict in favor of the cleaner. The interpreter of Pop that was ordered to pay him $ 129,500 in damages, says The Jasmine Brand. $39,500 for past economic losses, $60,000 for non-economic losses (pain/suffering, etc.) and an additional $30,000 for future non-economic losses, it is detailed.
For the time being, the rapper has not yet reacted to this judgment.
Italian energy giant Eni announced on Tuesday its decision to open an account in euros and another in rubles with Gazprombank in order to honor its payments for the supply of Russian gas due “in the coming days”, thus complying with the demands of Moscow.
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“The payment obligation can be fulfilled by the transfer of euros” and the new procedure “should not be incompatible with the existing sanctions” once morest Moscow imposed by the European Commission, assures Eni in a press release.
The Italian group, 30.3% controlled by the State, thus seems to be taking the opposite view of the recommendations of the European Commission, according to which the opening of an account in rubles would constitute a violation of sanctions and would lead to infringement procedures. from Brussels.
“Anything that goes beyond the guidelines” given by the Commission to member states “would contravene the sanctions”, its spokesman Eric Mamer had declared a few hours before Eni’s announcement.
These indications consist of “opening an account in the currencies provided for in the contract, making a payment in this currency and making a declaration by saying that this closes the payment for the delivery of gas concerned”, he specified.
According to Eni, the Russian authorities have confirmed that “invoicing and payment will continue to take place in euros” – the currency agreed by the contracts -, and “an operator of the Moscow Stock Exchange will carry out the conversion into rubles within 48 hours without the intervention of the Central Bank of Russia”.
A Kremlin decree introduced a new payment procedure in two phases, with first a deposit into a Gazprombank account in euros or dollars, then the conversion into rubles on a second account opened with the same establishment.
Initially, this conversion mechanism involved a transaction with the Russian Central Bank, which the EU sanctions regime prohibits.
While Brussels has repeatedly ruled that such a ruble conversion mechanism represents a circumvention of EU sanctions, several member states anxious to maintain their supplies have asked the European Commission for clarification.