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Eastern Platinum starts litigation over US$13.7M payments to Serina, Ingwenya

Eastern Platinum Ltd. said June 7 that it is seeking damages from certain former executives and directors on a number of legal grounds related to payments totaling US$13.7 million to Serina Services AG and Ingwenya Inc.

The group filed notices of civil claim in the British Columbia Supreme Court. The first is against Serina and Ingwenya in relation to the above payment to them from Eastplats companies, claiming the agreements between the parties are not binding and that the funds unjustly enriched Serina and Ingwenya and should be returned.

The second claim against the above mentioned former Eastplats personnel alleges that the money was transferred by them to Serina and Ingwenya without consideration and without any apparent benefit for the Eastplats group.