It is not in dispute that 1st Defendant contracted a loan of $2,314,497 from the RB International Finance (USA) (RBIF) to finance importation of equipment for its business. From the pleadings it seems Plaintiff’s role was to provide a guarantee and a promissory note for the approval and disbursement of the loan which were contained in a Master Guarantee Agreement which Defendants claim they are not party to.
Plaintiff alleging a default in the repayment of the loans and having been called upon by RBIF to repay the loans to the extent of the promissory note and the guarantee provided have sued the Defendants. Forecasting the doomed fate of an application to join RBIF to the suit as a Co-Defendant, the Defendants withdrew the motion for joinder only to file this application for leave to amend its statement of defence and add a counter claim against RBIF.
The gravamen of the application to include a counter claim can be found in paragraphs 5 and 6 of the affidavit deposed to by Samuel Quan…