Foreclosure Notice Filed against Western Utah Copper Company Inc. ("WUCC"), a Subsidiary of Copper King Mining Corporation ("CPRK").SALT LAKE CITY -- Lenders have filed a Notice of Default ("N.O.D.") against Western Utah Copper Company Inc. (WUCC WUCC World Ultimate Club Championship ) which is located in Milford, Utah. WUCC is reportedly a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CPRK CPRK Crowne Plaza Riverside Kuching (Malaysia) . The Lenders are foreclosing for lack of payment on a 1st Deed of Trust A document that embodies the agreement between a lender and a borrower to transfer an interest in the borrower's land to a neutral third party, a trustee, to secure the payment of a debt by the borrower. and also on a 2nd Deed of Trust. The collateral that is secured by these Deeds include, but is not limited to: State land leases, water rights, unpatented mining claims, patented mining claims and other collateral as described in the Deeds of Trust. WUCC has been in default to the Lenders for over one year, therefore the Lenders filed the Notice of Default to foreclose on the collateral. Bridge Loan Capital Fund LP is currently one of the Lenders mentioned above. |
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