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Administrative Court refers case to Higher Administrative Court
Administrative Court refers case to Higher Administrative Court Canada NewsWire ...
About this update from Euromax Resources Ltd.
[{"type":"text","content":"\n \n \n \n Administrative Court refers case to Higher Administrative Court\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSXV: EOX\n \n \n www.euromaxresources.com\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 27, 2024\n \n \n /CNW/ -\n \n Euromax Resources Ltd.\n \n (TSXV: EOX): (\"\n \n Euromax\n \n \" or the \"\n \n Company\n \n \"), announces that the Administrative Court has issued a decision in the Company's appeal against the withdrawal of the previously granted approval of the Company's request to merge the Ilovica 6 and Ilovica 11 Concessions (\"\n \n Merger Request\n \n \") by the Government of the Republic of\n \n North Macedonia\n \n (the \"\n \n Government\n \n \"). This new ruling disregarded key legal arguments presented by the Company and simply agreed with the Government's decision. However, the Administrative Court did not challenge the fact that all legal conditions for the Merger Request have been met.\n \n \n Following this decision, which was delivered to the Company on\n \n March 26, 2024\n \n , Euromax reasserts its determination to pursue its legitimate rights through all available legal avenues, including the restoration of its merger approval. The Company remains resolute in its stance and will promptly appeal this decision to the Higher Administrative Court.\n \n \n The discrepancy in the Government's rationale for its withdrawal of the merger approval is clear: the Government claimed that a period of 25 days was an \"unduly long\" period for signing the new concession agreement, and yet the timeframe specified in the Minerals Law for concluding a new concession agreement is 60 days. Not only does the Government's rationale directly contradict the prevailing legal framework governing such matters, but the process for signing the new concession agreement was in the control of the Government's Ministry of Economy.\n \n \n The Company has already filed a letter notifying Government of a dispute under the Swiss-Macedonian bi-lateral investment treaty. Throug...