Full NRErin's action against Serbian firm reconvenes May 20
2009-05-04 10:01 ET - News Release
Mr. Blake Fallis reports
The Serbian International Arbitration Court will reconvene on May 20, 2009, to continue the examination of witnesses in Erin Ventures Inc.'s legal action against the Serbian national power corporation (further to Erin's news in Stockwatch of Dec. 16, 2008). As previously reported, Erin is seeking monetary compensation totalling approximately $15-million (U.S.). This legal action is based on Erin's claim that it held a valid joint venture contract to develop the Piskanja boron property, and in spite of direct knowledge of Erin's contractual rights to the property, the Serbian government in power at that time granted a concession to exploit these boron deposits to a third party.