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Gold/Mining/Energy : Pacific Rim Mining V.PFG -- Ignore unavailable to you. Want to Upgrade?

To: Quinn who wrote (10787)	11/10/1998 9:28:00 AM
From: Shirley Owen	Respond to of 14627

Lawyers have to eat too, Quinn:-) This is the what the endorsed writ of summons is all about: Plucinski suit relates to collateral shares Pacific Rim Mining Corp PFG Shares issued 20,117,370 1998-11-06 close $0.93 Friday Nov 6 1998 by Brent Mudry A suit filed against Pacific Rim Mining, promoter Catherine McLeod-Seltzer and several other directors stems from loans made to the company by Marian and Tadeusz Plucinski two years ago. In an endorsed writ of summons filed Oct. 27 in the Supreme Court of British Columbia, the Plucinskis seek unspecified damages. (Pacific Rim disclosed the suit on Nov. 6.) The named defendants are Pacific Rim, Ms. McLeod-Seltzer, Gerald Phillips, Druval Westcott and John Chalcraft. The writ notes the claim relates to a Dec. 14, 1995, loan agreement to finance exploration expenses in Argentina. The suit claims the defendants provided unrestricted free-trading shares as collateral against repayment of the loan, including interest. The Plucinskis claim the defendants breached this agreement several times. The suit notes that at the time of the default, the value of the collateral shares was approximately equal to the value of the loan. "Several months later, when the price of the shares had increased substantially, the defendants imposed an injunction to restrict selling of the previously forfeited shares, causing financial damages to the plaintiffs," states the court filing. The Plucinski's claim the value of the collateral shares at the date of the injunction, as well as other assets that were frozen. The suit also seeks punitive damages. A related suit filed by Pacific Rim against the Plucinskis was reported in Stockwatch on Apr. 14, 1997.