TSXV:HRE.H - Post by User
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Topham.tradingon Apr 30, 2015 6:35pm
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Post# 23682888
Mislead
MisleadI am not too sure how many others feel here but it seems as if Management has mislead many investors. Please explain how this is Final and Binding???
Jukly 2nd 2014 Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”) is pleased to announce that the Arbitration Court at the Moscow Chamber of Commerce and Industry (the “Tribunal”) has handed down a final binding ruling in the matter between the Company and the Government of the Kyrgyz Republic.
Read more at https://www.stockhouse.com/news/press-releases/2014/07/02/stans-energy-awarded-118-million-usd-in-international-arbitration-ruling#c7AcTUQmmGUkTdKp.99
April 30 2015
If the Kyrgyz Republic is successful in the hearing on the merits of its application to set aside the award of MCCI, it is possible the Ontario courts could also conclude that there is no enforceable arbitral award to recognize, despite the positions we have stated herein. In that case, Stans could be subject to cost consequences in the Ontario court, and which could be significant. If Stans were forced to seek a new arbitral award in a different forum, there would be significant cost and delay to Stans. It is also possible that the Ontario courts could vacate the Mareva injunction, if the Ontario courts are not convinced other grounds to maintain the Mareva injunction exist, in which event, there is serious risk that the Kyrgyz Republic could dispose of its Canadian exigible assets before Stans could have a chance to obtain a new arbitral award against the Kyrgyz Republic, and Stans could be exposed to significant costs indemnity consequences.
Read more at https://www.stockhouse.com/news/press-releases/2015/04/30/moscow-city-arbitrazh-court-sets-aside-stans-arbitration-decision-on-procedural#kQ7pRxqPamAts4EH.99