Bonterra Resources Inc (CVE:BTR) (OTCMKTS:BONXF) announced Tuesday that the Court of Appeal in British Columbia has dismissed the appeal filed by its former CEO and director, Navjit Dhaliwal, and its former VP of exploration and director, Richard Dale Ginn.
In their appeal, the former executives were seeking to overturn the Supreme Court’s decision ordering the immediate return of garnished funds totaling $2,184,080 to Bonterra.
A pre-judgement garnishment order had been granted by the British Columbia Registrar on April 12.
READ: Bonterra Resources responds to civil claim brought by former executives
On reviewing the matter, the Supreme Court of British Columbia set aside the garnishment and ordered the immediate return of the funds to Bonterra on June 20.
The Court of Appeal has now confirmed the decision.
Bonterra is a gold exploration company with assets in the Archean greenstone belts in the Canadian Shield. It controls three high-grade gold deposits named Gladiator, Barry and Moroy and also has significant regional targets.
Contact Uttara Choudhury at uttara@proactiveinvestors.com
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