Business
dynaCERT Annouces Dismissal of Counterclaim
TORONTO , June 14, 2013 /CNW/ - dynaCERT Inc. (TSX -V: DYA) ("Dynacert" or the "Corporat...
About this update from Dynacert Inc.
[{"type":"text","content":"\n\n\nTORONTO, June 14, 2013 /CNW/ - dynaCERT Inc. (TSX -V: DYA) (\"Dynacert\"\n or the \"Corporation\") today announced the dismissal of the counterclaim\n by \"Bearance (\"Bearance\") and his company Synergic Distribution Inc.\n (\"Synergic\") against the Corporation and the individually named\n directors\", as described in (note 7) to the Audited Consolidated\n Financial Statements year ended December 31st, 2012. (See below).\n\n\nThe Corporation and its legal representative Lancaster Brooks and Welsh\n (LBW) were successful in having the Counterclaim by (\"Bearance\") and\n his company (\"Synergic\") against the Corporation and the individually\n named Directors dismissed. The Divisional Court found palpable and\n overriding errors made by the original motions and on June 12, 2013\n dismissed the case.\n\n\nThe Corporation would like to thank LBW for their services during this\n process and are pleased that the counterclaim has been dismissed\n allowing the Corporation to close this file.\n\n\nConsolidated Financial Statements year ended 2012 7. Contingencies and Commitments\n\n\n(i)     The Company and certain former Directors of the Company were\n originally sued by a distributor Paul Bearance (\"Bearance\") and his\n company Synergic Distribution Inc. (\"Synergic\") in a Small Claims Court\n action in Ontario, pertaining to the sale of a Jetstar™ hydrogen\n generator.  The Small Claims Court action was ultimately dismissed\n administratively as a result of Bearance's failure to comply with two\n court orders that directed him to particularize the pleadings of\n fraudulent misrepresentation and to serve all documents on which he\n intended to rely to defendants' counsel by a stipulated date.  Before\n the order of dismissal was made, the Company and the same individuals\n who had been named as defendants in the Small Claims Court action\n commenced a separate action as plaintiffs in the Ontario Superior Court\n of Justice for defamation and intentional interference with economic\n interests.  Among other things, the plaintiffs claim:\n\n\na)     general and aggravated damages for defamation in the amount of\n $1,000,000;b)     general and aggravated damages for wrongful interference with economic\n relations in the amount of $1,000,...