Ontario Court of Justice Rules for Kyrgyz Republic in Share Ownership Case
Toronto, Ontario (FSCwire) - Stans Energy Corp. ("Stans" or the "Company") announces that the Ontario Superior Court of Justice has ruled that Centerra Gold (TSX: CG) shares (the “Shares”) are the property of Kyrgyzaltyn JSC (“Kyrgyzaltyn”) not the Kyrgyz Republic.
At issue was whether the Kyrgyz Republic (the “Republic”) is in fact the beneficial owner of the Shares through Kyrgyzaltyn, the mining company 100% owned by the Republic. The shares are currently being pursued as security in multiple cases of damages awarded by various International Arbitration Tribunals against the Republic.