Vegas comes north to collect from ex- NHLER
Bellagio LLC says Bear Mountain CEO Len Barrie owes more than $ 2 million
VICTORIA — Las Vegas- based Bellagio LLC has come to Canada to collect a debt from Len Barrie.
The hotel and casino has filed a notice of claim in Vancouver seeking more than $ 2 million US from the former NHL forward and CEO of Bear Mountain Master Partnership, a Victoria area golf resort and real estate developer.
Barrie, reached Thursday night, said he’s aware of the suit but takes issue with the amount of money being claimed.
“We have a little dispute and we will have to see how this finishes,” he said. “We don’t agree with the amount. We’ve already paid $ 400,000, [ and] we think the amount should be smaller.
“And when we settle on the amount, we’ll get it paid and will move on.”
According to the statement of claim, over the course of three days in May 2008 Barrie negotiated credit at the casino, and provided 11 “negotiable credit instruments” totalling $ 1.5 million US to guarantee the loan. The statement of claim says Barrie agreed to pay 18- per- cent interest per annum on the line of credit he was extended at the Bellagio, and he paid back $ 420,000 US, reducing his debt to $ 1.08 million.
The Bellagio, citing breach of contract, took court action in March 2011 to collect the $ 1.08 million after the credit instruments Barrie provided were returned “dishonoured.”
According to court documents, in September 2011 Clark County District Court in Nevada awarded the Bellagio a default judgment of $ 2.148 million US based on the debt’s principal, interest of more than $ 640,000, and court costs and legal fees of more than $ 420,000.
Now it appears the Bellagio wants that money, plus interest dating back to the court’s September decision.