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Class action filed against Asia Packaging Group Inc. and directors and auditors
Published : April 30, 2014
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Class action filed against Asia Packaging Group Inc. and directors and auditors

CALGARY, April 30, 2014 /CNW/ - Jensen Shawa Solomon Duguid Hawkes LLP (JSS Barristers) has filed a class action proceeding against Vancouver-based Asia Packaging Group Inc. (TSX-V: APX), Robert Wilson, Brian Birmingham, Jin Kuang, Michael E.D. Raymont, George Dorin and Manning Elliott LLP.   

The action is brought on behalf of shareholders who bought APX shares between April 26, 2011 and the halt of trading in the shares on November 6, 2013. JSS Barristers has filed a Statement of Claim in the Alberta Court of Queen's Bench in Calgary, as a national class action.  A separate claim, for BC investors, has been filed with the British Columbia Supreme Court in Vancouver.

Prior to trading in APX's shares being halted, the company's sole material assets were wholly owned foreign companies in China.  The Statement of Claim alleges that APX and its directors failed to secure proper control over those subsidiaries and their operations, including their boards of directors, corporate seals and records, and bank accounts.  The Claim alleges that in the fall of 2103 APX lost complete control of its Chinese assets.  As a result, the company can no longer operate or pay its bills.  The claim further alleges that Class Members have lost the entire value of their investment. 

This claim alleges that APX's former directors and auditors have breached their duties, and that they made misrepresentations regarding the true state of affairs of APX.

The Statement of Claim seeks damages for losses suffered by investors in the amount of $9,000,000, plus other relief including costs and interest.

JSS Barristers provides litigation services to both commercial and individual clients. The firm's lawyers appear at all levels of Court in Alberta and Canada. We act for substantial corporate entities as well as individuals and we take pride in our advocacy on behalf of each of our clients.

SOURCE Jensen Shawa Solomon Duguid Hawkes LLP

For further information: Carsten Jensen, Q.C., jensenc@jssbarristers.ca, (403) 571-1526; Andrew Wilson, wilsona@jssbarristers.ca, (403) 571-1058; Erin Baker, bakere@jssbarristers.ca, (403) 571-0744
Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Austral Pacific Ltd

CODE : APX.V
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Austral Pacific est une société de production minière basée en Nouvelle-Zelande.

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Nominations de Austral Pacific Ltd
30/04/2014Class action filed against Asia Packaging Group Inc. and dir...
24/12/2007 Appoints New Director
Rapports Financiers de Austral Pacific Ltd
15/08/2008Announces Second Quarter Results
Communiqués de Presse de Austral Pacific Ltd
27/02/2009Amends Loan Facility
16/02/2009Updates Reserves
30/11/2008Amends Loan Facility
14/11/2008announces Sept quarter results
24/09/2008Announces Strategic Alternatives Review
02/09/2008Reports A7 Discovery Well Now Producing
17/07/2008Reports A7 Well Success
14/07/2008Reports A7 Well Success
05/07/2008reports results of A6 Well Drilling and Notification of Waih...
26/06/2008Placement Closes
20/06/2008Raise up to US$7 million
12/06/2008Energy - Operations Update
27/05/2008Sells Second PNG Asset
27/05/2008Drill Two Wells in Cheal Oil Field
28/04/2008Corportae Update
08/04/2008says reports misleading
26/03/2008Announces PNG asset sale and debt reduction
11/03/2008Operations Update
03/03/2008Completes Financing
11/02/2008Set to Complete Financing
19/12/2007Arranges US$15m Financing
11/12/2007Cheal-B facilities completed ahead of schedule
21/09/2007Cheal oil production station complete
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