NiQuan ordered to pay its former VP over $20M for breach of contract

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NiQuan ordered to pay its former VP over $20M for breach of contract

Another setback for NiQuan , as the company has been ordered to pay its former vice president of Global Energy Services David Small $20,647,017 million for breach of contract for monies owed to him during his employment. Small exited the company in November 2021 and resigned in an email, dated October 20, 2021, in which he complained about irregular payments by the company which was affecting his ability to make ends meet and provide for his family. NiQuan’s chief visionary officer Ainsley Gill argued that Small was aware of the financial challenges that the organisation faced as a start-up and was unreasonable in his requests.

Small negotiated a mutual separation agreement from the organization with Gill for the sums and bonus owed to him during his tenure in October 2021 but no payments were made despite the specific dates agreed to and Small subsequently took legal action.

In a judgment delivered on Friday afternoon, Justice Westmin James ruled in favor of Small and awarded damages for breach of contract in the sum of $18,575,880.40; aggravated and exemplary damages in the sum of $1,116,273.00, interest at the rate of 2.5 percent per annum from the date of the breach, November 30, 2021, to the date of judgment, thereafter statutory interest at the rate of five percent per annum until payment as well as prescribed costs in the sum of $332,460.77.

There is a stay of execution on the judgment for 21 days. The court judgment comes amid financial problems plaguing the company which is close to US$300 million in debt. David Small is a former Independent Senator and was represented by attorneys Anand Ramlogan, SC, Jared Jagroo, and Robert Abdool-Mitchel from Freedom Chambers