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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: bigdude who wrote (28190)12/21/1999 6:43:00 PM
From: Karl Zetmeir  Read Replies (1) of 28369
 
Van Sun/CP say Bre-X class lawyer Docken touts settlement

Bre-X Minerals Ltd BXM
Shares issued 219,103,330
Tue 21 Dec 99 In the News
The Vancouver Sun reports in a Canadian Press dispatch in its Tuesday
edition that claimants in a class-action lawsuit against Bre-X Minerals
could see settlement cheques within a couple of months, according to a
lawyer heading up the legal action. "Early in the new year there are going
to be some settlements in terms of the company and some of the insiders,"
according to Clint Docken, whose firm represents 150 Alberta clients
involved in the lawsuit. Mr. Docken says that all of assets of Bre-X chief
executive David Walsh, estimated at $100-million, have been frozen. Mr.
Walsh died in June of 1998. Mr Docken estimates the settlement for
investors, who were swindled by the Calgary-based company in 1998, will
total in the hundreds of millions of dollars. Claimants, however, may get
more cash if a Texas court decision prohibiting Canadians from getting
settlement money out of the United States is successfully appealed. "The
appeal hasn't been filed yet ... but in the U.S. potential for recovery is
limitless," says Mr. Docken.
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