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Savvy to be wound up over unpaid $800,000 debt

Savvy Entertainment chief executive Anthony Blakey (Photograph supplied)

An order was made yesterday to wind up a company that was loaned $800,000 by the Government for a recording studio.

Chief Justice Narinder Hargun also ruled that the Official Receiver would be appointed as the provisional liquidator of Savvy Entertainment Ltd.

A petition to wind up the company was filed by the Government, represented by the Attorney-General’s Chambers.

Savvy Entertainment was founded by Anthony Blakey, described earlier as an American music promoter.

It was lent the money in 2018 for equipment to set up a recording studio in Dockyard that never materialised.

Brian Myrie, for the Attorney-General’s Chambers, told a hearing in the civil and commercial jurisdiction of the Supreme Court yesterday: “The company entered into a loan agreement with the Government.

“The loan agreement was defaulted.”

He said Mr Blakey was “one of the principals” of Savvy and lived in the United States.

Mr Myrie told the court that a statutory demand by the Government for payment was dated June 7, 2019 but “for various different reasons, we could not locate Mr Blakey”.

He added that notice was served when police spoke to Mr Blakey on another matter.

Mr Myrie said: “He actually obtained a lawyer so I had to pause on this and reach out to his lawyer … we never received a response from his lawyer.”

The court heard it was not known if Savvy had assets.

Mr Myrie said: “That’s why I’m seeking this order to discover if they’ve got any assets so that the Government can get its money returned.”

The Royal Gazette reported earlier that demand-for-payment notices were issued by the Government in June 2019 against Savvy Entertainment Ltd for defaulting on $778,204 of the loan.

Mr Justice Hargun said yesterday that the petition was supported by an affidavit from Shivon Washington, as a then-acting permanent secretary for the Government.

He added that the testimony spoke to a loan agreement between Savvy and the Government, dated April 2, 2018, “for an amount of $800,000 debt, which to date remains unsatisfied”.

The court heard the statutory demand served in relation to the debt remained outstanding.

Mr Justice Hargun said: “In those circumstances I am satisfied that the statutory requirements for winding up a company have been satisfied – namely that the company is deemed to be insolvent.

“In those circumstances I am satisfied that it is appropriate to make an order winding up the company and to appoint the Official Receiver as the provisional liquidators of the company, and I so do.”

Separately, Mr Blakey faces a criminal charge in Bermuda of obtaining a money transfer by deception.

Cindy Clarke, the Director of Public Prosecutions, told a court last October that an arrest warrant was issued and extradition proceedings had begun.

A Bermuda Police Service spokesman said yesterday that “the extradition process involving Mr Blakey remains ongoing”.

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