Stans Energy Corp. (“Stans” or the “Company”) is pleased to announce that the Company has retained additional counsel for its various legal cases against the Kyrgyz Republic (the “Republic”). Stans has several parallel court actions underway seeking enforcement of an existing US$118 Million International Arbitration award from the Moscow Chamber of Commerce and Industry (the “MCCI”), an appeal of a decision of the Ontario Divisional Court removing a Mareva Injunction on 47 Million shares of Centerra Gold (TSX: CG), and a new UNCITRAL arbitration.
“As our case has grown both in scope and in size, additional resources are available to the company for deployment to ensure that a robust plan is in place to secure compensation for Stans and its stakeholders relating to the impact on the Company’s business operations in Kyrgyzstan,” states Rodney Irwin, Interim President and CEO.
Bennett Jones LLP has been previously retained by Stans to handle all proceedings before the Ontario Courts and outside of the Russian Federation. Bennett Jones will continue on Stans’ case, with the appeal of the lifting of the Mareva Injunction handed down by the Ontario Divisional Court.
Stans has retained Torys LLP, led by John Terry LLM. LLB. to proceed with application for the recognition and enforcement of the MCCI award before the Ontario Court of Justice.
For the new UNCITRAL arbitration, Stans has retained Freshfields Bruckhaus Deringer. Partners Noah Rubins and Nigel Blackaby will lead the case.
“Stans has assembled the premier roster of world renowned firms and legal experts to continue advancing the Company’s claim against the Kyrgyz Republic. Notwithstanding recent decisions coming from Moscow City Arbitrazh Courts, the company is committed to seeking resolution of its claim for damages inflicted by the unlawful actions of the Kyrgyz Republic against the Company’s interests,” continues Rodney Irwin.
About Stans Energy
Stans Energy Corp. is a resource development company focused on advancing rare earth and specialty metals properties in areas of Central Asia and Russia. Stans acquired the past producing rare earth mine, Kutessay II, in the Kyrgyz Republic in 2009. Since that time the Government of the Republic of Kyrgyzstan took expropriatory actions against the Company’s interests in that country, Subsequently Stans Energy applied to international arbitration to resolve the conflict. On June 30, 2014, Stans Energy was awarded US$118 Million by the Arbitration Tribunal at the Moscow Chamber of Commerce and Industry. On October 24, Stans Energy arrested 47 million shares of Centerra Gold (TSX: CG) as security in this matter. This security allows the Company to pursue the recognition of its arbitral award against the Kyrgyz Republic in the Canadian court system. Stans is now seeking recognition by the Ontario Court of Justice to collect US$ 118 Million worth of Centerra Gold shares.
We seek safe harbour.
President & CEO
VP Corporate Development
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, use of proceeds from the Offering, the completion of the Offering, the continued advancement of the company’s general business development, research development and the company’s development of mineral exploration projects. When used in this press release , the words “will”, “shall”, “anticipate”, “believe”, “estimate”, “expect”, “intent”, “may”, “project”, “plan”, “should” and similar expressions may identify forward-looking statements. Although Stans Energy Corp. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
John Terry LLM. LLB., Torys LLP
John Terry’s civil litigation practice focuses on public, business and international trade and investment law. He has appeared as counsel at all levels of court in Ontario, at the Federal Court and Federal Court of Appeal, before the Supreme Court of Canada, in commercial and investment arbitrations and before a variety of administrative tribunals. John regularly provides advice to corporations and federal, provincial and municipal governments on NAFTA and WTO matters. He has acted for and advised major Canadian and multinational corporations in respect of investor–state arbitrations under Chapter 11 of the NAFTA.
Noah Rubins, Freshfields Brukhaus Deringer
Noah is the head of the international arbitration practice in Paris, and the head of the firm’s worldwide CIS/Russia Dispute Resolution group. Noah specializes in the arbitration of disputes arising out of energy projects, both treaty and contract-based. He is one of a handful of non-Russian international arbitration specialists who speaks Russian fluently, and he has an in-depth knowledge of the cultures and business practices in the countries of the former Soviet Union. Noah has represented clients such as BG, Maersk Oil, Russian Railways, Exxon, Chevron, AES, InterRAO, Total, Rosneft and Itera Energy in relation to projects in the former Soviet Union and Eastern Europe. His practice also extends to other industry sectors and regions, including infrastructure, heavy machinery, and financial services in Europe, Africa and Latin America. Noah has advised and represents clients in more than 100 arbitrations over the last fifteen years, under ICSID, LCIA, ICC, VIAC, ICAC and UNCITRAL rules to name a few. Some of the landmark cases in which he has been involved as counsel include Karaha Bodas v Pertamina, Loewen v United States, Parkerings v Lithuania, CMS v Argentina, and Libananco v Turkey.
Noah is US-qualified, and worked in New York, Houston, Washington, Istanbul, Moscow and Kyrgyzstan prior to his arrival in Paris in 2004.
Nigel Blackaby, Freshfields Brukhaus Deringer
Nigel is global co-head of the international arbitration group and is recognized as an “undisputed leader in his field.” He has acted as counsel and arbitrator in over 100 ad hoc and institutional arbitrations in the English and Spanish languages (including over 30 investment arbitrations). He has particular expertise in energy and mining disputes.
STANS ANNUAL GENERAL AND SPECIAL MEETING
Stans AGSM has been rescheduled from July 7, 2015 to September 24, 2015. Stans Energy Annual AGSM, will still be held at:
Toronto Board of Trade:
September 24, 2015
Start Time – 1pm
77 Adelaide St. West
First Canadian Place