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Ucore Rare Metals Inc. V.UCU

Alternate Symbol(s):  UURAF

Ucore is focused on rare and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.


TSXV:UCU - Post by User

Bullboard Posts
Comment by Mouloukon Apr 29, 2019 10:39am
97 Views
Post# 29683159

RE:RE:This should get the enemys attention

RE:RE:This should get the enemys attention
Rodtipup wrote: YES, my thoughts as well. Being granted court costs should tell the story. Rarely do judges order costs, Id wager the court did this due to IBC's frivilous manouvering and complete waste of court resources and time as noted by UCORES lawyer in a wrtten statement to the eppeal.

Clearly, the court is fed up, IBC is playing the legal game, but, in doing so is now being penalized.

So, heres where we are. INHO

-Nothing until June 19 when IBC's appeal will be heard.
-Then wait for a judgement on that appeal.
-Then IBC has 10 days after the decision to file an appeal on the interlocutory injunction.
-then a hearing on the interlocutory injunction
-then wait for a decision on that
-then IBC will have a right to appeal if UCORE is successful.
-Then a hearing on the appeal if necessary
on and on and on.....time is not on our side..you get the drift, this wont be over anytime soon unless an agreement is reached.




You are right Rodtipup. Lot of delays. We are still at the jurisdiction stage, so it means an appeal on whether NS Court have jurisdiction or else, if the forum non conveniens applies. The forum non conveniens just means that there is a better juridiction to hear the dispute. Sometime, in contracts, a jurisdiction is stipulated, but all the parties might be located elsewhere, as well as witnesses, the location of evidence and so on. It is an analysis performed by the judge to determine whether it makes sense to transfer the file in another jurisdiction.

The law applicable is another question though. The law could be, let's say NY, but the jurisdiction could well be NS for example. The question of forum non conveniens becomes even more relevant when the jurisdiction and the law applicable are different.

So, waiting for June on the jurisdiction, means no argument on the merit anytime soon. So once the judgment is rendered, and IBC'c plea is filed, there is usually the examinations of the parties that will take place. These examinations are usually out of court and only between the parties (and confidential, unless one of the party decides to file the examinations in the Court records). Once this process is completed, few other documents can be filed in the Court records (Reply, Response) until the file is ready to go in front of a judge to...obtain a Court date to be heard on the merit.

The most informative part though will be IBC's Plea (or defense). So far, I understand that IBC refused to do it as it did not want to make an act which would recognize the jurisdiction of NS. Once we will see IBC's Plea, it will be very interesting as we will be able to get more details on its position.

Obviously, the rules described above  may differ slightly from one jurisdiction to another (I do not know the exact court rules in NS), but the judicial process is pretty similars in most jurisdictions. Usually, before hearing a case on the merit, courts want to make sure that all parties have had the opportunity to make all the arguments that they intend to raise and that  the other party knows about it. What can change though is the Courts backlogs. I do not know how long it takes in NS to get a Court date once your file is ready. Hopefully, not much...

With respect to the costs,  these costs are, as I understand it, only for the jurisdiction motion and hearing. It should not be much, although I prefer that UCU receives it than the other way around.

Moulouk
Bullboard Posts