Parvez Tyab heads to court after bank takes his Tesla

Stockwatch Daily - - FRONT PAGE - By Mike Caswell

VAN­COU­VER BUSI­NESS­MAN Parvez Tyab has filed a law­suit in the Supreme Court of Bri­tish Columbia over the seizure of his car, a 2014 Tesla Model S. He claims that the deal­er­ship that sold him the ve­hi­cle failed to dis­close a lien. Ac­cord­ing to Mr. Tyab, the deal­er­ship’s owner was well aware of the lien as the owner was the one who had taken out the associated loan.

The al­le­ga­tions are con­tained in a no­tice of claim that Mr. Tyab filed at the Van­cou­ver court­house on Oct. 4, 2018. The suit tar­gets Affin­ity Auto Group Inc. of Van­cou­ver and its owner, a man named Trevor Kramer. Also a de­fen­dant is TD Auto Fi­nance (Canada) Ltd., which seized Mr. Tyab’s car.

The case cen­tres around a 2014 Tesla Model S that Mr. Tyab pur­chased at Affin­ity Auto in April, 2015. Ac­cord­ing to the suit, sev­eral months be­fore the pur­chase Mr. Kramer had bor­rowed money from TD Auto us­ing the Tesla as se­cu­rity. The loan was in the amount of $137,666. TD lent Mr. Kramer the money know­ing that he in­tended to sell the car through Affin­ity Auto’s busi­ness, the suit states.

When Mr. Tyab pur­chased the car, all went as he ex­pected. He says that he paid $104,000, with the pay­ment com­pris­ing $16,100 in cash plus a trade-in. Mr. Tyab con­sid­ered him­self to be the right­ful owner of the Tesla after com­plet­ing the deal. Affin­ity Auto never told him about any loan and rep­re­sented that it was sell­ing the car free and clear of any in­ter­est reg­is­tered against the Tesla, the suit states.

The prob­lems, as de­scribed in the suit, came abruptly, over three years later. In Septem­ber, 2018, TD seized the car. Ac­cord­ing to Mr. Tyab, the seizure came be­cause Mr. Kramer had failed to pay the loan associated with the ve­hi­cle. Mr. Tyab says that he has since de­manded that TD re­turn the ve­hi­cle, but it has re­fused.

Mr. Tyab is seek­ing dam­ages for neg­li­gent or fraud­u­lent rep­re­sen­ta­tion against Affin­ity Auto and Mr. Kramer. He is also seek­ing a dec­la­ra­tion that he owns the Tesla out­right, free of any se­cu­rity in­ter­est of TD. In ad­di­tion, Mr. Tyab is ask­ing for an in­junc­tion that would pro­hibit TD from sell­ing the car un­til the case is heard.

Van­cou­ver lawyer Timothy Goe­pel of Lind­say Ken­ney LLP filed the suit on Mr. Tyab’s be­half. The de­fen­dants have not yet filed a re­sponse, and Affin­ity Auto may never file one. Its for­mer location now be­longs to a dif­fer­ent car deal­er­ship and govern­ment records show that it is no longer in good stand­ing for fail­ing to file reg­u­lar re­ports.

While Mr. Tyab has had roles with pub­lic com­pa­nies, he does not ap­pear to have any roles at present. In 2008, he was a di­rec­tor of Sea Dragon Energy Inc., and in 2013 he was briefly a di­rec­tor of United Hunter Oil & Gas Corp. (*CUR­RENT)

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