Artisan (UK) PLC
26 November 2007
ARTISAN (UK) PLC
ATTEMPT TO REOPEN LITIGATION
On 11th November 2005, Artisan (UK) plc ('Artisan' or 'the Company') the
residential house and business park developer, announced that the Appeal
Committee of the House of Lords had refused permission for Infiniteland Limited
and Mr John Aviss to appeal to the House of Lords. This ruling followed the
rejection, by both the High Court and the Court of Appeal, of the claimants'
claims for damages for misrepresentation and breach of warranty in connection
with the sale of Bickerton Construction Limited in 2001. This transaction
completed prior to the appointment of Mr Michael W Stevens as a Director and
Chairman of Artisan.
Without any letter before action or other prior notification, Artisan has been
served with a claim by Infiniteland Limited and Mr Aviss, alleging fraudulent
misrepresentation in relation to the sale of Bickerton Construction Limited, and
claiming damages, including the claimants' costs in relation to the previous
proceedings.
Artisan has taken advice from the leading counsel who successfully represented
the Company in the previous proceedings. The Company is advised that the
proceedings now issued are an attempt to re-litigate issues which have already
been decided and rejected by the courts, and as such are an abuse of process.
The Company is applying for the new claims to be struck out, and will press for
the earliest possible hearing of that application. The Company is advised by its
counsel that this application to strike out will succeed.
Enquiries to:
Artisan (UK) plc
Chris Musselle Chief Executive 01480 436666
email@artisan-plc.co.uk
Brewin Dolphin Securities Nominated advisers 0845 270 8613
Limited
Andrew Kitchingman
Bankside Consultants Financial PR advisers 020 7367 8888
Simon Rothschild 07703 167065
Louise Mason
Company website: www.artisan-plc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange