Picked up from SH. posted by blueboron. Thought others here may be interested.
Erin Ventures to meet with Serbian Mining Ministry
2009-06-22 09:45 ET - News Release
Mr. Blake Fallis reports
SERBIAN LAWSUIT AND BORON PROPERTY SETTLEMENT DISCUSSIONS CONTINUE
Erin Ventures Inc.'s management and members of the Serbian Ministry of Mining have agreed to meet, starting June 25, regarding a possible settlement to Erin's legal action over the Piskanja boron property. These meetings will continue to focus on the form and manner of a possible settlement that would be acceptable to both parties including, but not limited to, the possible reinstatement of Erin's right to the Piskanja boron property. Erin's legal action results from the decision of a previous Serbian government to grant a concession to exploit these boron deposits to a third party, in spite of direct knowledge of Erin's contractual rights to the property. Subsequently, the concession to exploit the Piskanja boron property has been officially returned to the Serbian government by the third party, and remains uncommitted.
Additionally, the Serbian International Arbitration Court, which is presiding over Erin's legal action, has concluded the examination of all witnesses. The court has the right to recall witnesses and/or request additional written information as it deems necessary prior to making a ruling regarding this matter. Erin awaits further communication from the court regarding this matter.
Summary of Erin's legal action
Erin is seeking monetary compensation, totalling approximately $15-million (U.S.), as the result of Erin's contention that it holds a valid joint venture contract to develop the Piskanja boron property and, in spite of direct knowledge of Erin's contractual rights to the property, the Serbian government in power at that time granted a concession to exploit these boron deposits to a third party.
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