Quebec High Court has ruled that former hockey player Stefan Quintal will not only lose his case against a businessman who opened a gym at a Canadian training center, but will also have to pay him $ 255,000.
“Large box, with opening near low-cost competitor, deficits [du gym] Accumulated. With Mr. Quintal’s refusal to accept his share of the losses, the club finally went bankrupt in 2020. ”
Since 2019, the former Canadian defenseman has been embroiled in a serious dispute with his former business partner Leonard Schlem, an experienced businessman who has long run the world’s largest fitness chain.
The two men met 12 years ago, at the suggestion of former Canadians CEO Pierre Bovine, to build a gym at a team training center in the South Shore.
“Mr. Schlemm told him not to be interested, can we read in the judgment. Mr. Bovin then suggested that he join hands with the former Canadian player, who was responsible for promoting it and attracting customers.
$ 255,000 loan
After a while, mr. Schleim and Stefan Quintal accepted the responsibility of running the gym, which was started in 2009, as former No. 5 of Glorious’s. The businessman owns 80% of the shares, while the former hockey player owns 20%.
In 2012, Mr. Quintal got a job in the NHL’s Player Safety Department, becoming its vice president two years later.
“It has the effect of reducing the time he spends in business [du gym]”, Whether it is indicated in the judgment.
Wanting to spend more time with his family in Montreal, Stefan Quintal eventually left his position as vice president to become an assistant in the department. At the same time, negotiations began to sell its stake in South Shore Gym to its business partner. This allowed him to obtain a $ 255,000 “bridge loan” to help buy a home in the Outreach district. The loan was later repaid by Mr. Shlem.
“There is no dispute that Mr. Quintal owes him a total of $ 255,000,” the verdict states.
An agreement was finally reached to sell Mr. Quintal’s shares to Mr. Schleim, but shortly thereafter, they also decided to sell his shares. After negotiations, the preliminary agreement was finally amended.
Despite attempts to dispose of the shares, however, the purchase offer was not filed despite the presence of six potential buyers.
“Attempts […] Continue to be unsuccessful until 2020, the judge explained. The [gym] Then goes bankrupt.
A dispute over the deal ensued after that. For the former-CH defender, his former-business partner had to repurchase his shares in the club worth $ 832,000. Mr. Schlem countered that he had not paid Mr. Quintal anything because of the revised original contract, while claiming $ 255,000 from him for repaying a loan he had taken out to buy a house in Outremont.
The case facing these two positions came up for hearing.
“It simply came to our notice then [M. Schlemm] The agreement was reached in a transparent manner, with Mr Quintal not only informing about the amendment but also of the reasons that prompted it, the magistrate said in the final verdict. The court concluded that the contract had been amended to be valid.
If he wishes, Mr. Quintal has 30 days to appeal the decision.