Business
Farallon Announces Favourable Ruling on Wiltz Case
COURT FINDS FINAL APPEAL WITHOUT MERIT - CASE IS CLOSED VANCOUVER, March 16 /CNW/ - Dick Whitting...
About this update from First Atlantic Nickel & Cobalt Corp.
[{"type":"text","content":"\n\n\n\nCOURT FINDS FINAL APPEAL WITHOUT MERIT - CASE IS CLOSED\n\n\nVANCOUVER, March 16 /CNW/ - Dick Whittington, President and CEO of\nFarallon Resources Ltd. ("Farallon" or the "Company") (TSX: FAN;) announces\nthat the Second Collegiate Court in the Fifth Circuit in the city of\nHermosillo, Sonora State, Mexico has dismissed an appeal filed by Wiltz\nInvestment, S.A. ("Wiltz") in November 2008, as being without merit. The\nappeal was related to a ruling made by the First Unitary Court for the Fifth\nCircuit in the city of Hermosillo, Sonora State, Mexico on September 9, 2008.\nThe latest ruling is final and has, once again, vindicated the Company's\nposition in this matter. In addition to the previous ruling, the Second\nUnitary Court has also awarded costs to Farallon. The case is now closed.\n\n\nOn January 22, 2004, in a writ filed in the Second District Court for the\nFifth Circuit in Hermosillo, Sonora, Mexico, Wiltz Investment S.A. ("Wiltz")\nmade certain allegations and, as a consequence, demanded the rescission of the\noption and assignment agreements between Minera Summit de Mexico ("Minera\nSummit") and Farallon dated October 15, 1995 whereby Farallon purchased the\nCampo Morado property. On November 6, 2007, the Company was advised (see\nFarallon News Release November 8, 2007) that the Second District Court of the\nFifth Circuit in Hermosillo had issued a ruling declaring that Wiltz had not\nproven its allegations under the civil action and that there was no\njustification to rescind the option agreement between Minera Summit and\nFarallon. Wiltz appealed the ruling, which was then reviewed by the First\nUnitary Court for the Fifth Circuit in Hermosillo. On February 26, 2008, the\nCompany was advised that the basis for the appeal was denied. Wiltz then filed\nanother appeal to have this ruling reviewed and on August 26, 2008 the Second\nCollegiate Court from Sonora granted the appeal for the effects of reviewing,\nonce again the file by the First Unitary Court. The said court rendered a new\njudgment on September 9, 2008 confirming the ruling issued by the Second\nDistrict Court in November 2007. Wiltz then filed an appeal to have the\nSeptember 9 ruling reviewed by the Second Collegiate Court in Hermosillo,\nSonora State. The latest ruling made on March 3, and pub...