Lundin Gold's former law firm denies negligence

By Mike Caswell / January 31, 2018 / www.stockwatch.com / Article Link

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Lundin Gold Inc.'s former law firm, Cassels Brock & Blackwell LLP, denies that it had anything to do with a legal snafu that left Lundin responsible for paying a royalty on a property that it no longer owned. Cassels Brock says that Lundin itself is to blame for the problem. The situation only arose because of the way that Lundin shuffled assets amongst its subsidiaries.

Cassels Brock is responding to a lawsuit that Lundin filed in the Supreme Court of British Columbia on Dec. 4, 2017. The suit claimed that Cassels Brock was negligent in handling the 2010 transaction in which Lundin Gold disposed of its Svetloye mine in Russia. At the time Lundin was responsible for paying a 1-per-cent royalty on the property to a Russian entity.

The problem, according to the suit, was that Lundin sold the property without including the royalty in the arrangement. This left Lundin in the position of having to pay a production royalty on a property that it no longer owned. Lundin blamed this state of affairs on Cassels Brock, and sought appropriate damages.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2018 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted.Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.

Recent News

Gold stocks lead the large cap miners by far over H1/25

July 07, 2025 / www.canadianminingreport.com

Gold stocks up as the metal price and equities gain

July 07, 2025 / www.canadianminingreport.com

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok