Announcement Details/Table Section :
Further to our announcement on 6 April 2011 in respect of the above captioned legal proceedings, we wish to inform the Exchange on the following:-
1. ASCAP's motion to the Federal Court for an Order that:-
a. the Order made by the Federal Court on 8 November 2010 dismissing ASCAP’s motion in the Federal Court for Leave to Appeal to the Federal Court against the decision of the Court of Appeal made on 9 July 2010 (dismissing ASCAP’s Appeal against the Order made in the Originating Summons No. D-24NCC-72-2009 on 12 May 2010), be set aside; and
b. in the alternative, Leave be granted to Appeal against the decision of the Court of Appeal given on 9 July 2010
has been dismissed with costs.
2. ASCAP’s motion for Leave for Appeal to the Federal Court against the dismissal by the Court of Appeal on 16 February 2011 of ASCAP’s Intervention Appeal arising from the Intervention Order granted to ACE INA in the Judicial Review Proceedings has been dismissed with costs.
3. The hearing by the High Court of ASCAP's Application for Leave for Judicial Review and ASCAP's application to stay the approval of the Minister of Finance for the proposed disposal by ASCAP of its entire 49% equity interest in ASIB to ACE INA has been postponed to 21 April 2011.
This announcement is dated 8 April 2011.
|
