TSXV:TGR.H - Post by User
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dom1on May 11, 2006 10:50pm
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Post# 10835774
News Release
News ReleaseTiger International Resources Inc (C:TGR)
Shares Issued 6,852,764
Last Close 5/5/2006 $0.52
Thursday May 11 2006 - News Release
Mr. Patric Barry reports
Tiger International Resources Inc. has been awarded a judgment against Anthony John Campbell and two of his associated companies in the amount of $122,019 (Australian).
The judgment comes from a costs award that was argued in the South Australian Supreme Court in January stemming from prior litigation from Flinders Diamonds Ltd. Although Tiger was successful on appeal in the original litigation, costs from an action by Flinders Diamonds against Tiger and a director, and Mr. Campbell and his companies, had been awarded against the five entities, and Mr. Campbell settled out directly on a favourable basis with Flinders Diamonds, without Tiger's consent. Tiger claimed that Mr. Campbell owed three-fifths of the costs paid by Tiger, and the court has agreed and granted the award to recover the amount of $122,019 (Australian), plus costs in Tiger's favour.
Costs will be argued soon, and a final judgment against Mr. Campbell and his companies will be entered. Since the judgment is awarded jointly and severally, Mr. Campbell is personally liable if his companies are unable to pay.
Any defendant has the right of appeal, so Mr. Campbell has that right available, which may delay collection of this award. Advice from Tiger's counsel is that any appeal will be unsuccessful and that Tiger will prevail.