Stans Energy Corp V.HRE.H

RE:RE:Kyrgyz Centerra Shares

[4putt]

Penny

The recent ruling was from the Ontario Superior Court (not the Supreme Court) and it can be appealed. The company is reviewing its options via its legal team and any appeal would be based on the points made by the recent court in its written decision. Keep in mind that two previous courts ruled differently on this matter. The company will issue a statement should it decide to launch an appeal.

Ontario Court of Justice Rules for Kyrgyz Republic in Share Ownership Case

V.HRE | July 12, 2016

 

 

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.

Read more at https://www.stockhouse.com/news/press-releases/2016/07/12/ontario-court-of-justice-rules-for-kyrgyz-republic-in-share-ownership-case#k1lKkXEghV1U4mq0.99

Ontario Court of Justice Rules for Kyrgyz Republic in Share Ownership Case

V.HRE | July 12, 2016

 

 

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.

Read more at https://www.stockhouse.com/news/press-releases/2016/07/12/ontario-court-of-justice-rules-for-kyrgyz-republic-in-share-ownership-case#k1lKkXEghV1U4mq0.99