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Sefton Resources (SER)

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Monday 16 November, 2015

Sefton Resources

Sefton Resources Update

RNS Number : 8425F
Sefton Resources Inc
16 November 2015
 

16th November 2015

Sefton Resources, Inc.

("Sefton" or the "Company")

Sefton Status update

Sefton Resources Update on Involuntary Chapter 7 Bankruptcy Case

In an Order issued November 13, 2015, The United States Bankruptcy Court for the District of Colorado, The Honorable Michael E. Romero ordered that the Involuntary Bankruptcy Petition against Sefton Resources, Inc, (the "Company" or "Sefton") be dismissed with prejudice. The Court also awarded Sefton its legal fees and costs to be paid by the Plaintiffs, as well as punitive damages. The Court, in awarding costs and damages, found that the Plaintiffs acted in bad faith.

Sefton was represented by its counsel, Littler Mendelson of Denver and NED Tom Milne. Mr. Milne provided testimony and responded to questions from Judge Romero.

The Company now looks to have set aside the remaining lawsuit brought by the same plaintiffs, for the same amounts, in the US Federal Court and with the Bankruptcy petition dismissed the company is now free, should it so wish, to dispose of its Kansas assets.

The Directors of Sefton accept full responsibility for the content of this announcement

Visit www.seftonresources.com or contact:

Clem Chambers, Sefton Resources:

[email protected]

Nick Bealer, Cornhill Capital Ltd (Broker):

Tel: 020 7710 9612

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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