Courtland Capital Inc.

March 16, 2016 12:20 ET

Courtland Capital Inc. is Granted Summary Judgment on Debt Action

CALGARY, ALBERTA--(Marketwired - March 16, 2016) - Courtland Capital Inc. (NEX:CTD.H) (the "Corporation"), is pleased to announce that it has been granted a summary judgment in respect of a lawsuit it had commenced against Fixed Income Solutions LLC ("FIS") in the US District Court for the Northern District of Illinois Eastern Division to pursue collection of a secured 7% promissory note in the principal amount of CDN$300,000 dated October 23, 2013.

As at December 31, 2015 the principal and accrued interest owing to Courtland was $340,885. The summary judgment also grants Courtland ongoing interest at 7% plus legal fees associated with the enforcement and collection of the debt. Courtland will be filing a formal judgment with the US District Court for the Northern District of Illinois Eastern Division for principal, interest and legal fees. In the event, FIS does not satisfy the judgment, Courtland intends to pursue execution against the assets of FIS to satisfy the judgment. Courtland is a secured creditor of FIS and has the first priority as a secured creditor against assets of FIS.

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