Notes from the management discussion from the second quarter ending February 2006:
At February 28, 2006, the Company's subsidiary, REA, remained in dispute with a customer respecting change orders on a major engineering contract commenced in 2004 and completed during the Company's 2005 financial year. During 2005, the customer commenced an action for damages against the Company regarding unsatisfactory performance relative to the contract claiming US $9,400,000. The Company has counter-claimed for the amount of the change orders plus other costs for a claim of US $7,109,000
The arbitration hearing is scheduled to begin on May 4, 2006
Rutter Inc. homepage: rutter.ca
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