inco Message Board - Msg: 21445271

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Gold/Mining/Energy : inco

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From: Jidamo	6/23/2005 6:11:25 PM
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The litigation between Inco and the VBN dissenting shareholders is about to get nasty. Cassels Brock (Acting for Raymond Boulle, and others) have filed a request with the court seeking permission to amend their statement of defence and counterclaim. I believe it is scheduled to be heard in Toronto Jul 12th. They have been cross examing Scot Hand in a discovery proceeding for the last couple of year and discovered Inco management and its Board of Directors committed certain acts or ommissions that were oppressive or unfairly prejudicial to the interests of the VBN shareholders. They want to add certain Directors , etc to the claim and will be seeking additional monetary claims. Inco has so far filed more than 8000 documents containing more than 65000 pages of text. The legal bill on this thing has to be a whopper. This thing has potential to cost Inco multi millions of dollars if it goes against them and in my opinion it doesn't look to good for them.

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