Beach House sued for more than $500,000

Daniel
Daniel MacEachern
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Atlantica in Portugal Cove was one of top restaurants in St. John’s area

A little more than four months ago, Atlantica — in the Beach House in Portugal Cove-St. Philip’s — made St. John’s food critic Karl Wells’ Top 10 restaurants list of 2013. Today, the phone numbers are disconnected and the business is being sued for half a million dollars by the Business Development Bank of Canada.

The Beach House and Atlantica restaurant in Portugal Cove.

According to a statement of claim filed April 23 with the Supreme Court of Newfoundland and Labrador, the bank lent the Beach House, Inc., $650,800 in 2008 at 2.25 per cent annual interest. The outstanding balance of the loan, as of Feb. 4, including interest, is $524,623.37.

“Beach House did not repay the loan as agreed and therefore is and has been in default of the loan and the loan agreement,” reads the statement of claim. “The bank demanded payment of the loan, including by demand letter dated

4 February 2014 (through which the bank have [sic] Beach House 10 days to repay the loan). These demands were not complied with.”

According to the claim, the bank has also issued notices of its intention to “dispose of collateral” — the assets of the Beach House — but as of the date of the statement of claim, the bank had not yet taken possession or disposed of any property.

The loan was partly secured by a guarantee by Wayne Turpin and Elaine Turpin, limited to 25 per cent of the outstanding balance — requiring the Turpins to pay $131,155.82.

Kory Turpin, Wayne and Elaine’s son, was the former owner. He left the operation in September 2011 to “pursue other interests,” according to a note he published on Facebook in November of that year, and praised the new business partners taking over the operation. Kory Turpin died in October at 35 after a short illness.

The building at Beachy Cove Road was empty Tuesday, with no notices published as to the status or future of the business.

The restaurant’s Facebook page was last active in January, with recent queries from people about the disconnected phone numbers going unanswered.

One of the Beach House’s phone numbers connects to a woman who says she has nothing to do with the business, but has been receiving several calls a day for it, since being assigned the phone number last year.

The provincial government’s online business registry lists Alana Walsh Giovannini, Robert Giovannini and Taylor Giovannini as the current directors of The Beach House, Inc.

Taylor Giovannini is also listed on the Beach House’s website as a managing partner.

The Telegram left messages via Facebook and through the website for several people listed as part of the Atlantica/Beach House team, but none were answered.

 

dmaceachern@thetelegram.com

Twitter: @TelegramDaniel

Organizations: The Beach House, Atlantica, Supreme Court

Geographic location: Portugal Cove, Newfoundland and Labrador, Beachy Cove Road

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Comments

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Recent comments

  • Edgar Whalen
    Edgar Whalen
    May 11, 2014 - 08:22

    Carl Wells restaurant critic.How did a weather man with CBC go from weather man to food critic.He should stick with weather.He goes around rating restaurants on stars.I would like to know his back ground on food being a cook myself.If he rates a restaurant four stars does everybody run to that restaurant because of his rating.Hey Carl go back to weather and leave the food critic business to the professionals boy. god help me

  • Karyn
    May 08, 2014 - 22:10

    OMG there is such greater and more important things going on in the world right now, ie., Russia and the Ukraine, the kidnapping of 200 plus girls to be sold into prostitution, etc..... just to name a few! Come on guys, for real??? Though I feel very sad for the family and for the loss of their son and business, do reporters really have to plaster it all over the news? Where not talking about the banks going bust over a measly 500k here! Talk about rubbing salt into a wound! Jeeze, give them a break!

  • Rocky
    May 08, 2014 - 13:49

    First I have to say give me a break with the location being an investment opportunity for a 5 star restaurant to make it! For townies that's the boonies and at best you would have a 3 month busy period for tourists etc. Please keep investigating this story. Something very fishy here ( no pun intended) but I went to the website last night and photos of staff were still on there and if they had nothing to do with the default they should demand to have their profiles removed. But not the directors and those who signed on the loan guarantee / documents.

  • Anonymous
    May 07, 2014 - 16:57

    Anything to do with taxpayers money is newsworthy so far as I'm concerned. These people have other businesses and is just FYI I guess. I find it funny that most people only have the problem with Karl Wells. It was great when he put Atlantica on the Top 10 restaurants list though.

  • Anonymous
    May 07, 2014 - 13:17

    This is another example poor journalism at the cost of a family's reputation. The previous owners should not be named. Have some respect for a family who has suffered the tremendous loss of their only child in the last 6 months. You need to learn the difference of what is actual news and what is sensational journalism. Karl Wells should take that class as well.

  • Peter Jackson, editor
    May 07, 2014 - 13:06

    Just for the record, Karl Wells does not make reservations under his own name and gives no advance notice of his arrival at restaurants. This is standard practice for any credible restaurant critic.

    • Anonymous
      May 07, 2014 - 14:25

      And no one knows who Karl Wells is when he walks in? A true restaurant critic is Anonymous. Time for Karl Wells to go.

  • Maggie
    May 07, 2014 - 12:41

    The Telegram should not be making public names of people involved. Unfortunately this kind of thing is happening everyday within companies & businesses & should not be plastered all over the media.

    • Brad
      May 08, 2014 - 11:02

      Oh please, anyone can find out who owns the restaurant, directors, and managing partners with the help of Google or even going on the restaurant's own website.

  • Gary
    May 07, 2014 - 12:31

    FYI, Gary

  • Maggie
    May 07, 2014 - 12:31

    The Telegram should not be making public names of people involved. Unfortunately this kind of thing is happening everyday within companies & businesses & should not be plastered all over the media.

  • Mary
    May 07, 2014 - 11:50

    Remake this property as a spa.$

  • Marshall Art
    May 07, 2014 - 11:46

    Locks on the doors of a restaurant that made Karl Well's top 10 list ? What the hell happened here ? It had the ambience, the fancy wine, the fancy little meals, the fancy desserts with the little drizzles, the oean view; it was all there, even Karl Wells and 'guest' were there. Unfortunately, all that doesn't mean squat to the bank when it comes calling, because the money to pay the bills wasn't there.

  • Poorhabits
    May 07, 2014 - 11:15

    I don't see anything about this story that is news worthy. The company has defaulted on it's loan... so what? That happens, a lot. It's not criminal if a company goes out of business, it's unfortunate.. And why drag past & present owners/directors names into it? Is the telegram trying to shame people for a having tough luck with business?

    • McCadden
      May 07, 2014 - 14:27

      Not newsworthy? When our tax dollars are used to fund a restaurant while restaurant owners in the rest of the province are using their own collateral and commercial bank loans that is more than news - it is disgusting! BDC funds are supposed to be reserved for new sectors such as technology, research and development and venture capital. Plus the Town is owed taxes on this business. I can't renew my mortgage for a 2.5 interest rate. Why should corporate welfare bums get that kind of break? Let them take their own business risks. Definitely newsworthy. Hope to see more follow-up stories. The authors of these other comments about the newsworthiness of this story must be personal friends.

  • guy incognito
    May 07, 2014 - 10:22

    Why is a business defaulting on a loan headline news? Better question, why does the fact that Karl Wells gave it a good rating mean anything? Who cares what Karl Wells thinks? Besides, when he "reviews" an establishment they roll out the red carpet for him. Hardly representative of the business. I only wanted his opinion when he did the weather......

  • Paul
    May 07, 2014 - 08:20

    How is this really news? BDC has a mortgage on this property and will sell it and recover a portion of their money. This happens almost every week somewhere in NL.

    • david
      May 07, 2014 - 10:06

      That's the spirit! Ho hum, just another Monday in Newfoundland.