A shareholder of International Musto Explorations (TSE) is alleging that the company and Adolf Lundin were party to a number of securities transactions that are alleged to have conveyed undue benefit to Lundin.
The Supreme Court of British Columbia petition was filed by Sibalin, a Panamanian company with an office in Geneva, Switzerland, represented by Adolphe Malevez of Belgium.
The petitioner is the same company that unsuccessfully launched an action to block the 1992 amalgamation of Eastmaque Gold Mines and Equinox Resources. Lukas Lundin, president of Musto and brother of Adolf Lundin, said the allegations are without foundation, and are “frivolous and vexatious.” Legal counsel was retained to defend the action.
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