HomeBusiness and policyEastplats files civil claims over US$13.6 million payment

Eastplats files civil claims over US$13.6 million payment

Eastern Platinum Limited, Eastplats Acquisition Co. Ltd, and Eastern Platinum Holdings Limited have filed notices of civil claims related to two separate actions in the British Columbia Supreme Court.

The first claim is brought against Serina Services and Ingwenya in relation to the payment of the US$13,666,609 paid to them from the Eastplats companies.

The claim alleges that the agreements between those corporations and the companies are not binding, that the funds were not properly received by them, and are an unjust enrichment to them and should be returned.

The second claim is brought against certain former officers and directors of Eastplats.

It alleges that the former officers and directors purported to enter into agreements with Serina and Ingwenya on behalf of the companies pursuant to which $13,666,609 was transferred to Serina and Ingwenya without consideration, without conditions precedent for delivery of the funds being met, and without any apparent benefit to the Eastplats companies.

The companies are seeking damages from the former directors and officers on a number of legal grounds.