DELMAY ENERGY -- LEGAL ACTION COMMENCED AGAINST SEMITEL AND OTHERS.VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 22, 1994-- Delmay has today commenced a legal action in the United States District Court for the Northern District of Ohio The U.S. District Court for the Northern District of Ohio is the federal trial court for the northern half of Ohio. The court has courthouses in Cleveland (where the chief judge and most of the Northern District's judges have chambers), Toledo, Akron, and Youngstown. against Semitel Corporation, Norka Scientific Corporation, The Norka Group Inc., Norka International Company Limited and Eugene Taylor, seeking imposition of a constructive trust A relationship by which a person who has obtained title to property has an equitable duty to transfer it to another, to whom it rightfully belongs, on the basis that the acquisition or retention of it is wrongful and would unjustly enrich the person if he or she were allowed to retain and specific performance and alleging fraud, breach of contract, unjust enrichment A general equitable principle that no person should be allowed to profit at another's expense without making restitution for the reasonable value of any property, services, or other benefits that have been unfairly received and retained. , money had and received and waste. Delmay is seeking: 1. The imposition of a constructive trust for the 51% of Semitel stock for the benefit of Delmay, as equitable owner; 2. The appointment of a receiver to manage the affairs of Semitel and to: (a) maintain actions against the infringers on the patents for which Semitel, Uniax Corporation and Data Storage International Corporation hold exclusive licenses, (b) prevent Taylor and the other Defendants from further wasting Semitel's assets and to recover any assets fraudulently conveyed, and (c) conduct the affairs of Semitel until a new Board of Directors can be duly elected; 3. An order upon Taylor, Norka Group, Norka Scientific, Norka International and any other entity owned or controlled by those Defendants to return to Semitel all property, including intellectual property and licenses owned by Semitel, and to cease competing with Semitel, Uniax and DSI (Dynamic Systems Initiative) An umbrella term for a suite of Microsoft products that help manage the Windows environment in large enterprises. DSI was introduced in 2003. ; 4. An accounting of all funds expended by Semitel since November 30, 1993; 5. Disgorgement Disgorgement A repayment of ill-gotten gains that is imposed on wrongdoers by the courts. Funds that were received through illegal or unethical business transactions are disgorged, or paid back, with interest to those affected by the action. of all profits and income received by the Defendants that belong to Semitel; and 6. Damages and return of monies had and received. Trading in the shares of Delmay has been suspended by The Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). since May 17, 1994, pending the filing of certain information relating to Semitel as set out in previous News Releases. With the Semitel acquisition not proceeding and currently in litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , it is management's intention to seek reinstatement of trading based on Delmay's oil and gas operations. VICTOR J. ELIAS, President The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Victor J. Elias, 604/263-5529 |
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