SOURCE: Tricon Development Inc.

June 03, 2013 17:11 ET

Tricon Development Rafi Weiss Giluet Agree to Accept Settlement With Regard to Report

BROOKLYN, NY--(Marketwired - Jun 3, 2013) - Tricon, Rafi Weiss and Giluet I have agreed to accept a settlement offer with regard to the Ripoff Report that had been filed by Ted Baker on behalf of Manual Protective Covers (MPC), a car cover company. The settlement stipulates that no further slanderous articles will be published by MPC. Settlement stipulates that the inability of Baker and MPC, to obtain funding from Giluet and Tricon for tenant improvements and other corporate needs, were solely due to the lack of financial wherewithal by Baker and MPC, a cogent business plan and acceptable level of creditworthiness. MPC further acknowledges that, it was to be a tenant at a property, being acquired, from an entity controlled by a Mr. Burmaster, by Tricon. MPC never had the independent wherewithal to commit to the lease which was necessary in order to justify underwriting of tenant improvements and tenant concessions to MPC. 

MPC has agreed to contribute $7,500 to a charity named by Rafi Weiss and Tricon Development Inc., and to issue an announcement, within 30 days confirming both an apology and agreement to refrain from any further releases of information through the media and to the public. In exchange, Rafi Weiss, Tricon Development Inc. and Giluet agree to drop any and all proceedings against MPC, without prejudice, and to consider this matter closed for the foreseeable future, unless MPC were to violate terms of the settlement agreement.

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