Litigation Update: Monument Succeeds in Appealing Shah Alam High Court Decision

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[{"type":"text","content":"\n\n\nVANCOUVER, July 17, 2013 /CNW/ - Monument Mining Limited (TSX-V: MMY and\n FSE: D7Q1) (\"Monument\") today updated shareholders on its previously-disclosed litigation\n with Selinsing Mining Sdn Bhd (\"SMSB\").  SMSB had filed a statement of\n claim against Monument and two of its Malaysian subsidiaries in the\n High Court of Malaya in Shah Alam, Selangor, Malaysia, and had received\n a summary judgment against Monument and the subsidiaries, which\n Monument had appealed.  Today, Monument is pleased to announce that the\n Malaysian Court of Appeal at Putra Jaya allowed Monument's appeal and\n set aside the summary judgment.\n\n\nOn October, 10, 2012, Monument had been made a party in a Writ and\n Statement of Claim filed by SMSB, a company wholly owned by Kesit Pty\n Ltd, an Australian private limited company owned and controlled by\n Peter Steven Kestel and his wife. SMSB in the suit claimed, among other\n things, a 5% \"Joint Venture interest\" in the profit of the gold\n production from Monument's Selinsing Gold Mine. SMSB was the previous\n sub-lease holder and operator that sold the Selinsing Gold Mine to\n Monument free and clear of any encumbrances, a transaction that closed\n on June 25, 2007. SMSB has been paid in full and it was not until 2012\n that SMSB made a claim against Monument in relation to its purported\n \"Joint Venture interest\", which Monument denied.\n\n\nOn February 26, 2013, the High Court in Shah Alam, Selangor, granted\n SMSB's application for a summary judgment against Monument and two of\n its subsidiaries, Able Return Sdn. Bhd. (\"ARSB\") and Selinsing Gold\n Mine Manager Sdn. Bhd. (\"SGMM\").   Monument appealed that decision to\n the Court of Appeal at Putra Jaya.\n\n\nOn July 8, 2013 the Court of Appeal at Putra Jaya allowed Monument's\n appeal and set aside the summary judgment.  As a result of this\n decision, a trial will be conducted, in which Monument, ARSB and SGMM\n will be defending the SMSB claim.    The Court of Appeal further\n ordered the matter to be heard by a judge other than the judge who had\n awarded the summary judgment in the first instance.  The matter will\n now be set down for full trial in the Shah Alam High Court with a\n different judge in due course.\n\n\nThe Court of Appeal also ordered that SMSB pay costs to Monument in\...

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