Welcome!

Weblogic Authors: Yeshim Deniz, Elizabeth White, Michael Meiner, Michael Bushong, Avi Rosenthal

News Feed Item

Farallon Resources Ltd.: Nevada Supreme Court Denies Request for Rehearing

Farallon Resources Ltd.: Nevada Supreme Court Denies Request for Rehearing

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 05/24/06 -- Dick Whittington, President and CEO of Farallon Resources Ltd. (TSX: FAN), advises that a request by David L. Hermiston for a "rehearing" before the Nevada Supreme Court of the November 16, 2005 Nevada Supreme Court ruling against him has been denied. The November 16 Nevada Supreme Court Order upheld in its entirety a previous lower court judgment issued in March 2001 against Mr. Hermiston which dismissed his claim to the Campo Morado Property "with prejudice" and awarded a wholly owned subsidiary of Farallon US $646,991, plus accruing interest, for compensatory damages and legal costs. The judgment further orders "that any and all interest(s) of any kind that David L. Hermiston and Wilma Hermiston may hold in the Mexican mining concessions or claims, commonly known as Campo Morado, shall be and hereby are declared to be held in trust for the benefit of Farallon's wholly owned subsidiary, or its successor(s) in interest."

The March 13th, 2001 Nevada Court judgment specifically states that "each and every allegation of Third Party Plaintiffs is deemed to be true and Third Party Plaintiffs are entitled to the relief prayed for in that complaint." The allegations referred to above state, amongst other things, that Hermiston in fact did not use the funds entrusted to him for the acquisition of any Mining Interests on behalf or for the benefit of Farallon's subsidiary, as he had promised but, instead, pursuant to his original fraudulent intent, utilized at least US$400,000 of these funds to live on and to attempt to acquire such Mining Interests for his own, direct or indirect benefit or that of others. Hermiston has refused to properly account for his actions or to otherwise produce such Mining Interests in Farallon subsidiary's name as promised, despite demands to do so.

The November 16, 2005 decision of the Nevada Supreme Court was "final and conclusive"; however, Mr. Hermiston requested a "rehearing" on the technical grounds that there was a potential omission by the Supreme Court in their review. This was an effort on Mr. Hermiston's part to avoid his legal responsibilities and further delay the legal ramifications of the various Nevada Court rulings by "technical" means. This latest ruling by the Nevada Supreme Court denied his "request" and therefore brings this case to a close. The Company will now apply the full force of the law to seek the redress it has been awarded by the Nevada courts.

A Chronology of events in the numerous Nevada actions is attached. Shareholders are reminded that the Company has had a succession of legal victories and that the extent of those victories is dramatic. The following observations are made:

- The original Nevada case was initiated due to the removal of Mr. Hermiston from the Board of Summex Nevada by Summex Nevada for actions alleging breach of fiduciary duty. Amongst other things, it was alleged by the Board that Hermiston used Company funds for his own personal lifestyle needs and was removed as a result. Farallon was not involved in this action initially.

- Mr. Hermiston and several associates then launched a lawsuit against the Board of Summex Nevada to reinstate him to the Board in support of his claim to the Campo Morado properties.

- Summex Nevada countersues Mr. Hermiston and associates alleging fraud on their part.

- All his associates settled out of court for no consideration while Mr. Hermiston did not even bother to appear in court.

- A second lawsuit launched in Nevada by Mr. Hermiston is dismissed. Again, he does not bother to appear in court.

- The original lawsuit is thrown out "with prejudice". Farallon is awarded damages and - more importantly - it is ordered by the court that even if he subsequently somehow manages to secure an interest in the Campo Morado properties, he must hold them in trust for the benefit of Farallon.

- Mr. Hermiston appeals this judgment and loses. He then appeals to the Nevada Supreme Court and loses. He then asks the Nevada Supreme Court for a "rehearing" on technical grounds and loses.

- Finally, the Company has successfully secured the ability to have this Nevada Court Order enforced in Mexico - subject to Mexican law and any applicable treaties, to further strengthen the legal basis for Farallon to protect its ownership rights in Mexico.

Mr. Hermiston has, in this process, been deemed to have committed fraudulent actions, and to have used company money for his own personal uses. In a similar case, adjudicated by the Alberta Securities Commission, Hermiston was alleged to have made misrepresentations as a Vendor, Director and Officer in a prospectus, in respect to the acquisition of properties for Canadian Eagle Exploration Inc. (Canadian Eagle). Hermiston was also accused of defrauding Canadian Eagle and its shareholders of the proceeds of the public offering. The Decision Order states, "The Board heard considerable evidence concerning the ownership of certain properties which were described in the Company's prospectus and heard considerable evidence concerning the conduct of the financial affairs of the Company by Hermiston. Based upon the weight of the evidence heard at the hearing, which was not attended by Hermiston, the Board concludes that he did make misrepresentations and he did misappropriate funds of the Company as alleged." As a result of the above, Mr. Hermiston was the subject of a Cease Trade Order and barred from being a Director of any Canadian public company. It is Farallon's view that Mr. Hermiston's record speaks for itself.

Farallon also wishes to point out to its shareholders that, in addition to the dealings in Nevada, Mr. Hermiston has failed to find support for his fallacious claims from the judiciary of either Canada or Mexico. In addition to the actions in Nevada mentioned above, in 1998, in a similar claim, the Canadian courts found in favor of Farallon against companies and individuals controlled by Hermiston. This decision was so overwhelmingly in Farallon's favor that there was no attempt at an appeal. In Mexico, his original litigation was dismissed as being without foundation before being ruled as having no legal standing due to Mr. Hermiston's failure to follow due process. Mr. Hermiston has subsequently jumped to another jurisdiction in Mexico - the District Federal - to have these same issues that have been ruled upon in Canada, the US and Mexico brought before the law courts again. We believe that the Mexican courts will rule in the Company's favour; however, the Nevada case clearly indicates the extent to which Mr. Hermiston will avail himself of any legal avenue that is available to him to continue to press his unfounded allegations. Farallon is fully prepared for such eventualities on an ongoing basis and will continue to defend its interests in all such instances. The Company regards these latest allegations as being totally without merit and will continue to defend the interests of the Company with full vigor. The Company does not expect that its development plans will be compromised in any manner by these frivolous actions.

Copies of the various rulings on the cases referred to above are posted on the Company's website.

Dick Whittington said: "This latest ruling is appropriate and reflects the end of Mr. Hermiston's ability to avoid the legal redress that the Company will now seek as a result of the comprehensive and extensive victories that the Company has achieved in court in Nevada. We believe Mr. Hermiston is frivolously interfering in the legal affairs of the Company and, in due course, we will be seeking additional monetary redress as a result of his Mexican actions. In the meantime, we are fully focused on turning the Campo Morado project into a mine and the latest drilling and processing results at the new high grade massive sulphide G-9 deposit has given us the opportunity to evaluate developing a mine based on this G-9 deposit alone. This is an exciting time for the Company and we are looking forward to the next few months with a great sense of anticipation."

For further details on Farallon Resources Ltd. and its Campo Morado property, please visit the Company's website at www.farallonresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

ON BEHALF OF THE BOARD OF DIRECTORS

J.R.H. (Dick) Whittington, President & CEO

CHRONOLOGY OF EVENTS (NEVADA)

February 1996      Summex Nevada sues Dr. Joe Berry in the Federal
                   District Court in the State of Nevada.
                   Subsequently, Farallon acquired control of Summex
                   Nevada, indemnified the investors for their loss
                   and filed a countersuit against Hermiston and his
                   associates to regain control of the Company.

October 1997       Hermiston and parties related to him, John Torok
                   and associates, initially including Summex
                   (Canada), filed a lawsuit against Farallon, its
                   Directors, Villagran, Minera Summit, Farallon's
                   Investment Advisors (Nesbitt Burns, Merrill Lynch)
                   and related parties in the Federal District Court
                   in the State of Nevada.

December 1998      Torok and his associates (excluding Hermiston)
                   settle out of court on all issues in the Nevada
                   litigations by withdrawing all claims against
                   Farallon and its related parties by way of consent
                   to Farallon's position, for no consideration.
                   Hermiston did not appear at trial during these
                   proceedings, nor did he provide any evidence.

April 1999         October 1997 Case was dismissed because the
                   plaintiffs, David and Wilma Hermiston failed to
                   respond to a motion to appear at trial.

March 13, 2001     The Nevada District Court issues a ruling
                   dismissing the February 1996 case "with
                   prejudice". The Nevada Court decision also upholds
                   Farallon's countersuit and further orders:

                   1. "Any and all interest(s) of any kind that
                   David L. Hermiston and Wilma Hermiston may hold in
                   the Mexican mining concessions or claim(s)
                   commonly known as Campo Morado, shall be and
                   hereby are declared to be held in trust for the
                   benefit of Farallon's wholly owned subsidiary or
                   its successor(s) in interest; and

                   2. Hermiston must pay damages and costs to
                   Farallon Nevada in the amount of U.S.$646,991,
                   plus accruing interest. The total amount due at
                   this time is approximately U.S.$1 million
                   dollars."

April 2003         Motion for Order in Aid of Enforcement of Judgment
                   in Mexico, filed with Nevada Court by Farallon.

July 15, 2003      Hermiston appeals March 13, 2001 judgment.

December 19, 2003  Court rejects Hermiston's appeal and reaffirms
                   original March 13, 2001 judgment.

January 12th, 2004 Hermiston appeals March 13th, 2001 judgment to the
                   Nevada Supreme Court.

February 10, 2004  Order in Aid of Enforcement of Judgment granted by
                   Nevada Court: as to the judgment entered March
                   13th, 2001 be given full faith and credit in
                   Mexico to the fullest extent permitted by the laws
                   of Mexico and any applicable treaties.

November 30, 2005  Nevada Supreme Court upholds March 13, 2001
                   judgment in Farallon's favour, in its entirety.

December 2005      Hermiston files application for a "rehearing" of
                   the November 30, 2005 ruling of the Nevada Supreme

                   Court surmising that the Supreme Court
                   misapprehended facts or law in the case.

April 19, 2006     Nevada Supreme Court denies application for
                   rehearing of case. Court decision is now
                   conclusive and final.


No regulatory authority has approved or disapproved the information contained in this news release.

Contacts:
Farallon Resources Ltd.
Shawn Wallace
Investor Relations
(604) 684-6365 or Toll Free: 1-800-667-2114
(604) 684-8092 (FAX)
www.farallonresources.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
SYS-CON Events announced today that Evatronix will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Evatronix SA offers comprehensive solutions in the design and implementation of electronic systems, in CAD / CAM deployment, and also is a designer and manufacturer of advanced 3D scanners for professional applications.
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
"Digital transformation - what we knew about it in the past has been redefined. Automation is going to play such a huge role in that because the culture, the technology, and the business operations are being shifted now," stated Brian Boeggeman, VP of Alliances & Partnerships at Ayehu, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...