Deloitte

Deloitte

December 21, 2012 10:00 ET

Deloitte Press Release

TORONTO, ONTARIO--(Marketwire - Dec. 21, 2012) - Deloitte & Touche Inc., Trustee in Bankruptcy of Bre-X Minerals Ltd., intends to seek Court approval to discontinue the Estate's various lawsuits against the Estate of David Walsh, the company's former president, John Felderhof, the company's former Chief Geologist, and his former spouse, Ingrid Felderhof. The lawsuits have been ongoing since 1997. Although the point is contested by class counsel in a related class action against the above defendants, the Trustee has concluded that it lacks sufficient financial resources to continue the litigation and that there is no meaningful prospect of the Estate making a significant recovery even if successful.

The Trustee will apply for leave to discontinue the lawsuits from the Ontario Superior court of Justice on March 4, 2013 and from the Alberta Court of Queen's Bench in Bankruptcy on May 30, 2013. Class counsel in the related class action will be opposing the motion.

In order to obtain further information from Deloitte & Touche Inc. you may contact Annick Paradis at 416-874-3887.

In order to obtain further information about the class action you may contact Debbie Tocco at 519-561-6296 or visit the website www.brexclassaction.com.

Contact Information

  • Annick Paradis
    416-874-3887