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Gold/Mining/Energy : Legal resource, BRE-X references.
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To: c.r. earle who wrote (46)8/1/1997 2:35:00 PM
From: Jay Bilotta   of 58
 
Thanks to all who responded with info WRT lawyers handling the Bre-X matter.

I was in contact with Mr. Ajamie and would like to pass on the results of my conversation.

How to reach him?
Tom Ajamie
Tel: (713) 781-0771
Fax: (713) 781-0776
E-mail: tomajamie@worldnet.att.net

They are combining all the myriad of outstanding suits into one suit. This will take a judge's approval, but it has been requested and should be OK'd.

The legal fee is not 40%. It will be an amount prescribed by the hearing judge when and if the case is won.

If you made money on Bre-X, you may not be eligible to participate in the action, e.g., Greg Chorney has dropped out of the suit.

Finally, it is not absolutely necessary to establish contact with a lawyer to participate in the action. The formalities are that a notice will go out so that all the brokerage firms will be notified to provide a list of shareholders who were involved in Bre-X. These shareholders will be notified that they will participate in the suit unless they specifically request not to be.

The Bad news: This (the legal process) could take a long time.

The Good news: The SEC and national agencies will be involved - The Caymans may not be as safe as "some" think.

Hope this helps,
Jay in Geneva ("See ya in Court!")
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