News and Press Releases

Sefton Resources Inc Sefton Resources Update

16 November 2015

 

TIDMSER

RNS Number : 8425F

Sefton Resources Inc

16 November 2015

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    clemc@advfn.com
  Resources:
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 Nick Bealer, Cornhill    Tel: 020 7710 9612
  Capital Ltd (Broker):
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This information is provided by RNS

The company news service from the London Stock Exchange

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November 16, 2015 07:04 ET (12:04 GMT)