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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. -- Ignore unavailable to you. Want to Upgrade?

To: alan holman who wrote (28034)	8/25/1998 4:02:00 AM
From: WOODY	Read Replies (1) \| Respond to of 28369

can anybody let me know if the bre-x disaster litigatiion is still ongoing, profitable, returning any money to duped investors, and/or where to getr on teh bandwagon? wwoodal@earthlink.net holding 5500 worhtless shares

To: alan holman who wrote (28034)	8/26/1998 8:38:00 PM
From: alan holman	Read Replies (2) \| Respond to of 28369

The Bre-X Saga: Fortune or Folly? Walsh's widow can't pay funeral expenses Wednesday 26 August 1998 Stephen Ewart, Calgary Herald Jeannette Walsh, the widow of Bre-X Minerals founder David Walsh, says she hasn't got enough money to pay for her husband's funeral. Walsh is in a fight with Bre-X's bankruptcy trustee Deloitte & Touche over payment of $39,233.85 in expenses for her husband's final hospital stay in the Bahamas as well as his funeral in Montreal. Walsh accused Deloitte & Touche of blackmail. Deloitte & Touche -- which represents the interests of creditors, in this case Bre-X shareholders who lost money -- had a Bahamian court freeze the Walsh's assets this spring. In a rare interview since the Bre-X scandal unfolded, Walsh said the accounting firm is trying to circumvent the legal process. Lawyers are arguing whether the accounting firm should have access to information about her bank accounts. "That's what we're fighting down here," Walsh said from Nassau. "I'm appealing that. This is blackmail, in my opinion." Bre-X was involved in what has been called the biggest mining fraud in history. David Walsh, who died from a brain aneurysm in June, vehemently denied any knowledge of the scam. Ross Nelson, senior vice-president at Deloitte & Touche in Calgary, said the expenses would be paid if the other terms were met. "The battle isn't with respect to the payment of the funeral expenses," Nelson said. "It deals with other issues." Walsh, 52, took Bre-X from a penny stock run from the basement of his Calgary home to a $6-billion company on the strength of its Busang gold deposit in Indonesia. When Busang was revealed to be a scam, the stock collapsed. Lawsuits naming the Walshes and other Bre-X officials are making their way through North American courts. Under the court order freezing the Walsh assets, the couple were supposed to get $3,000 a week for living expenses. Walsh said a dispute over the payment means she hadn't received any money in months. Nelson said he wouldn't debate the matter in the media. Walsh, meanwhile, said her bills are mounting. "I don't know how I'm going to pay," she said. "I'm going to have to ask some friends (for money) because those bills have to be paid." Walsh's complaints come two weeks after her son, Brett, issued a statement that his father made far less money from company stock options than was reported by the media. It has been widely reported David Walsh made $35 million exercising stock options. Brett said his father earned $12.9 million selling Bre-X shares. He made no comment on his mother's earnings. Dermod Travis, a Montreal-based advocate for investor rights involved in one of the lawsuits, took a hard line on the funeral and medical costs. "We don't think shareholders money should be used to pay for David Walsh's funeral expenses," he said.