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Litigation in the DRC Dismissed; El Nino Files $850,000 Counter Action Against Georges Kavvadias and GCP Group Ltd. for Breach of Agreement
Litigation in the DRC Dismissed; El Nino Files $850,000 Counter Action Against Georges Kavvadias ...
About this update from Metalquest Mining Inc
[{"type":"text","content":"\n\n\n\n Jun. 24, 2010 (Canada NewsWire Group) -- El Nino Ventures Inc. ("ELN", "El Nino" or the "Company") (TSX.V: ELN; FSE: E7Q) announced today that it has received notice that the previously announced claims commenced in the Democratic Republic of the Congo, (DRC) were dismissed by the Tribunal of Commerce of Lubumbashi. El Nino successfully argued that the jurisdiction for hearing the claims is in British Columbia and not the DRC. As well, the orders for garnishment of the Company's shares in its joint venture Company, Infinity Resources SPRL, have been removed and remain registered in the Company's name contrary to the representations of Georges Kavvadias and GCP Group Ltd. The Company continues to take the position that the actions of its previous Country Manager, Georges Kavvadias are both spurious and without merit.\nEl Nino has also served Mr. Kavvadias and GCP Group Ltd. a Notice of Dispute and petitioned the Supreme Court of British Columbia in response to two alleged defaults of the Joint Venture Agreement.\n\nThe Company has stated in its Notice of Dispute and is prepared to prove that:\n\n\n >\n\n\nIn addition to the above, the Company is claiming that Georges Kavvadias breached the Joint Venture Agreement, in addition to the breach of warranty, by purloining funds provided to him, by denying the Company access to financial information and the Company's leased premises, equipment and property in the DRC and refusing to follow the budgetary decisions of El Nino.\nIt is important for the Company to obtain a resolution of the disputes and to determine the above quickly, so that the Management can begin addressing its obligations and renewing its efforts to advance the Company's exploration projects in the DRC.\nFollowing receipt from GCP Group Ltd. of the Notices of Default relating to the Joint Venture Agreement, El Nino has invoked the arbitration clauses contained in the agreements. Whereas in the past, GCP Group Ltd. has commenced litigation both in British Columbia which has been resolved and in the DRC which has been dismissed, with respect to past disputes, the Company's purpose for invoking the arbitration clause is to obtain a quick resolution of the current disputes.\n\nOn behalf of the Board,\n\n"Harry Barr"\n\nHarry Barr\nDirector, Chairman, Acting CEO\nEl Nino Vent...