Zone loses motion to move Nord Iron proceedings to B.C.

2013-01-25 13:07 ET - News Release

 

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

Mr. R. Bruce Duncan of Nord Iron reports

NORD IRON MINES INC.: ZONE RESOURCES LOSES MOTION TO MOVE JURISDICTION OF LAWSUIT FROM QUEBEC

Nord Iron Mines Inc. has successfully defended against a motion filed by defendant Zone Resources Inc. to move the jurisdiction of legal proceedings from Quebec to a British Columbia courtroom. Indeed, in her judgment, Madam Justice Danielle Grenier held that the Superior Court of Quebec has "undoubtedly" jurisdiction to try the matter and that it was "not necessary to examine all criteria," which would have allowed the court to defer its jurisdiction to the British Columbia courts as it "clearly appeared" from the company's motion that the Quebec authorities were the only ones able to completely solve the matter. On Sept. 19, 2012, Nord filed a statement of claim against Zone Resources, Marino Specogna, Ken C. Smith and Vendella Sonia, alleging inter alia breach of contract and conspiracy surrounding a mineral claim agreement dated July 24, 2012. Nord's lawsuit relates to certain mineral claims located in the Labrador Trough, Que. Nord Iron Mines is seeking $3-million in damages and/or a declaration of ownership from the Quebec Court. The proceedings will remain in the jurisdiction of the Quebec Superior Court, therefore all four defendants will need to defend themselves before such court. Nord Iron Mines continues to assert ownership of the Labrador Trough iron ore claims and looks forward to the opportunity to have all the facts disclosed in open court.

The remainder is available to Stockwatch subscribers. Click the yellow link above for a free trial subscription.