Just in case the board members have seen some Tazabek news like this today:
Remember the court decision:
Robert Mackay, President and CEO of Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”), is pleased to report that the Company’s lawsuit against a committee in the Jogorku Kenesh (the “Committee”), of which Rep. N. Badykeeva is a member, has been resolved by the Inter-district Court of Bishkek in favor of the Company.
The Inter-district Court has ruled that the Committee’s actions were illegal, and are counter to the Constitution of the Kyrgyz Republic. As a result, the following orders and decisions of the Committee were voided:
- Committee order to the State Geological Agency (SGA) to annul Licence Agreement #3
- Committee order to the State Geological Agency to put to tender Kutessay II
- Committee decision to recommend to the State Geological Agency that Licence Agreement #3 be annulled
Reasons for the decision were outlined in a judgment provided to the Company. The Court ruled that the Committee had committed a number of procedural and substantive errors and violations, including;
- failure to notify the State Geological Agency within a predetermined time period that a investigation was taking place;
- failure to follow proper inspection procedures;
- failure to keep proper records of inspections or minutes of Committee proceedings. In this case, the Committee kept no minutes and thus no minutes could be provided to the court;
- not allowing participation from representatives of Kutisay Mining LLC in relevant Committee meetings;
- acting beyond the scope of its authority by attempting to unlawfully interfere in the executive authority and activity of the Kyrgyz Government and the State Geological Agency.
Full NR 15th Nov. 2012 here: