MBMI Files Petition for Review and Complaint for Tortious Interference
29 Julho 2011 - 10:00AM
Marketwired
MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX VENTURE: MBR)
announces that the previously filed Motion for Reconsideration with
the Office of the President has been denied. As such, on July 27,
2011 the Company through its Philippine affiliates filed a petition
for review in the Philippine Court of Appeals against Redmont for
the issuance of a Temporary Restraining Order ("TRO") and / or Writ
of Preliminary Injunction. This petition for review is seeking the
Court of Appeals to issue a TRO which would lift and eventually
reverse and dismiss the cease and desist order from the Office of
the President in relation to the Financial or Technical Assistance
Agreement ("FTAA").
The Company through its affiliates have also filed a complaint
in the Regional Trial Court of Pasig City against Redmont
Consolidated Mines Corporation ("Redmont") and Manuel T. Casador
(collectively the "defendants") for Tortious Interference,
Violation of articles 19 and 21 of the Civil Code, Injunction, and
damages with application for the issuance of a Temporary
Restraining Order ("TRO") and / or Writ of Preliminary Injunction.
The damages total PhP38,724,133.76 (Philippine Pesos) plus ongoing
monthly reimbursements and additional litigation expenses and costs
of suit.
MBMI's Philippine affiliates have applied for this TRO to
restrain and or prohibit the defendants, including the directors,
stockholders, officers, employees and agents of the defendant
Redmont, and any and all persons acting in their behalf from
interfering, questioning, assailing, or filing or taking any other
legal actions, that would directly or indirectly affect the
validity and implementation of the FTAA.
The issuances of both Temporary Restraining Orders will allow
MBMI and its Philippine affiliates to continue its business
operations until the legal matters can be resolved in due process
through the Court of Appeals or the Supreme Court. The company will
continue to vigorously fight the decision by the Office of the
President and will exhaust all options at its disposal to reverse
the action.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael T. Mason, President and CEO
Further Information
For further information relating to the Company or this release,
please refer to the Company's website at www.mbmiresources.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: MBMI Resources Inc. Investor Relations 604-733-4196
mbr@mbmiresources.com www.mbmiresources.com
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