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16 Nov 2015 12:04
16th November 2015
Sefton Resources, Inc.
("Sefton" or the "Company")
Sefton Status update
Sefton Resources Update on Involuntary Chapter 7 Bankruptcy Case
In an Order issued November 13, 2015, The United States Bankruptcy Court for the District of Colorado, The Honorable Michael E. Romero ordered that the Involuntary Bankruptcy Petition against Sefton Resources, Inc, (the "Company" or "Sefton") be dismissed with prejudice. The Court also awarded Sefton its legal fees and costs to be paid by the Plaintiffs, as well as punitive damages. The Court, in awarding costs and damages, found that the Plaintiffs acted in bad faith.
Sefton was represented by its counsel, Littler Mendelson of Denver and NED Tom Milne. Mr. Milne provided testimony and responded to questions from Judge Romero.
The Company now looks to have set aside the remaining lawsuit brought by the same plaintiffs, for the same amounts, in the US Federal Court and with the Bankruptcy petition dismissed the company is now free, should it so wish, to dispose of its Kansas assets.
The Directors of Sefton accept full responsibility for the content of this announcement
Visit www.seftonresources.com or contact:
Clem Chambers, Sefton Resources: | clemc@advfn.com |
Nick Bealer, Cornhill Capital Ltd (Broker): | Tel: 020 7710 9612 |
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