Cheaper to buy than negotiate.Why negotiate with Erin when it would be cheaper to buy them out for $4million and change?
ERIN SEEKS COMPENSATION RE: SERBIAN BORON PROPERTY
Further to its news release dated November 29, 2005, Erin reports the following:
Erin Ventures Inc. has commenced the process of legal action against Elektroprevreda-Serbia (the Serbian government’s wholly owned, national power corporation). Erin is seeking compensation regarding the Piskanja boron property in Serbia. This claim, the first step in an anticipated larger litigation strategy, seeks monetary compensation for losses and certain damages, totaling approximately US$15 million.
Further legal action, if taken by Erin, will seek substantial compensation for lost potential profits from the boron property, and other damages apart from the initial US$15 million claim; may name Elektroprevreda and/or other related, responsible parties; and may be conducted within Serbia and/or other international venues. It is anticipated that a ruling will take anywhere from several months up to one year to complete.