RE:RE:RE:RE:RE:RE:RE:what ever happened to the $15 Million Dollar LawsuitHere's the last update we got on this lawsuit (Am I correct on that?).
The year was 2009 !
Read the last sentence "
Erin awaits further communication...". So were we !!
This lawsuit is dead and buried, never to be heard about or seen again...
Serbian Lawsuit and Boron Property Settlement Discussions Continue
by Chris Pritchard | May 28, 2009 | 2009 News Releases
Erin Ventures Inc. [TSX-Venture: EV] reports that the Serbian Ministry of Mining and Erin’s management have agreed to continue discussions early in June regarding a possible settlement to Erin’s legal action over the Piskanja boron property. These meetings will continue to focus on the form and manner of a possible settlement that would be acceptable to both parties including, but not limited to, reinstating Erin’s right to the Piskanja boron property. Erin’s legal action results from the decision of a previous Serbian government to grant a concession to exploit these boron deposits to a third party, in spite of direct knowledge of Erin’s contractual rights to the property. Subsequently, the concession to exploit the Piskanja boron property has been officially returned to the Serbian government, and remains uncommitted.
The Minister of Mining and Energy has expressed his desire to see this matter resolved by means other than legal action (as reported by Erin in a release dated October 23, 2008). At the request of the Minister, Erin submitted a proposal which includes an outline of the issues and events which led to Erin’s legal action, details of mining projects in Serbia (including, but not limited to the Piskanja boron property) that Erin may have an interest in developing, and what actions Erin expects the Serbian government take regarding these projects of interest to Erin. Erin’s submission of this proposal in no way mitigates its position that it continues to hold a valid claim for losses and damages.
Summary of Erin’s Legal Action
Erin is seeking monetary compensation, totaling approximately US$15 million, as the result of Erin’s contention that it holds 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.
The Serbian International Arbitration Court, which is presiding over Erin’s legal action, reconvened on May 20, 2009 to continue the examination of witnesses. Erin awaits further communication from the Court regarding this matter.