Courtland Capital Inc. is Granted Summary Judgment on Debt Action
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 03/16/16 -- Courtland Capital Inc. (NEX: CTD.H) (the "Corporation"), is pleased to announce that it has been granted a summary judgment in respect of a lawsuit it had commenced against Fixed Income Solutions LLC ("FIS") in the US District Court for the Northern District of Illinois Eastern Division to pursue collection of a secured 7% promissory note in the principal amount of CDN$300,000 dated October 23, 2013.
As at December 31, 2015 the principal and accrued interest owing to Courtland was $340,885. The summary judgment also grants Courtland ongoing interest at 7% plus legal fees associated with the enforcement and collection of the debt. Courtland will be filing a formal judgment with the US District Court for the Northern District of Illinois Eastern Division for principal, interest and legal fees. In the event, FIS does not satisfy the judgment, Courtland intends to pursue execution against the assets of FIS to satisfy the judgment. Courtland is a secured creditor of FIS and has the first priority as a secured creditor against assets of FIS.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements."
Contacts:
Courtland Capital Inc.
Rick Grass
(403) 899-3549
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Datum: 16.03.2016 - 11:20 Uhr
Sprache: Deutsch
News-ID 1422261
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