LONDON (Alliance News) - Sefton Resources Inc said Monday it is now free, should it wish to, to dispose of its Kansas assets, after an involuntary bankruptcy petition against the company was dismissed by a US court.
Last Friday, the US Bankruptcy Court for the District of Colorado ruled that the involuntary bankruptcy petition against Sefton be dismissed "with prejudice", and awarded Sefton its legal fees and costs to be paid by the plaintiffs, as well as punitive damages. The court found that the plaintiffs acted in bad faith, Sefton said.
The company said it will now look to have the remaining lawsuit brought by the same plaintiffs set aside in the US court.
Shares in Sefton remain suspended from AIM, following the resignation of its nominated adviser Allenby Resources last month.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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