The President and CEO of Territorial Bank of American Samoa, Dave Buehler, has issued a statement in response to the lawsuit filed against the bank and him by local businessman Timothy Jones.
The lawsuit filed last Friday with the Trial Division of the High Court alleges breach of contract, unjust enrichment and tortuous interference with prospective economic advantage.
Jones claims that TBAS has breached a business agreement he had with the bank for the operation of ATM machines belonging to one of his companies.
The statement from Buehler states: “Territorial Bank acknowledges receipt of an unsigned and unfiled complaint by Timothy Jones, Sr. The Complaint contains numerous inaccuracies and misrepresentations which will be responded to in detail through the judicial process.
“However, what is concerning is that this Plaintiff, Timothy Jones, Sr., is suing on behalf of two companies, one that does not legally exist, Rising Power, LLC and “Rising 9” a dba owned and controlled by his son. The contract at issue was not awarded to him personally nor his company.”
