Update on Court Proceedings
Kentor Gold Limited (“Kentor” or “the Company”) advises that the Bishkek Inter-district Court in the Kyrgyz Republic has decided to suspend the hearing of a Statement of Claim (“the Claim”) made against the Company and its subsidiary Kaldora Company Limited (Kaldora) pending the outcome of an appeal by the claimant in another case in the Talas Inter-district Court.
The hearing of the appeal against a decision of the Talas court was adjourned yesterday, 29 December, due to the judge’s unavailability, and has been rescheduled for 14 January, 2011.
The Claim was made by Invest-centre Talas LLC (ICT), a Kyrgyz limited liability company, which recently had its minority ownership in Andash Mining Company LLC (AMC) declared invalid by the Talas court.
ICT’s appeal against the invalidation of its shareholding in AMC is being opposed by the Talas Prosecutor. Kentor’s subsidiary Kaldora owns 80% of AMC.
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