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Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) has initiated legal action in Kyrgyzstan in response to the lack of due process exhibited by this special committee under the guidance of Rep. Badykeeva, and to address fundamental errors of fact and of law made by that special committee.

Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) has initiated legal action in Kyrgyzstan in response to the lack of due process exhibited by this special committee under the guidance of Rep. Badykeeva, and to address fundamental errors of fact and of law made by that special committee.

As quoted in the press release:

Further to the purported Licence annulment, this committee has recommended that the Mining Licence held by Stans for the Aktyuz ore field is put up for tender.  It is Stans’ legal opinion that this action contradicts all current legal provisions set out by the Kyrgyz constitution, including those intended to protect foreign investors from false expropriation.

The Company and its Kyrgyz advisors believe this committee failed to follow Kyrgyz laws, in that it (a) failed to follow legislated inspection and investigation procedures and due process in respect of the activity of the State Geological Agency, (b) failed to consider the interests of the Company or afford the Company due process, (c) acted beyond its legislated authority and interfered in activities of the government of Kyrgyzstan and the State Geological Agency over which it had no right or capacity, and (d) now seeks to direct the State Geological Agency to implement a form of expropriation, which is contrary to the Kyrgyz law.

Click here to read the Stans Energy (TSXV:HRE,OTCQX:HREEF) press release
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