Proactive Investors - Run By Investors For Investors

PreveCeutical gets default judgement in part of civil claim

Preveceutical said it had received a default judgment against Essos Corporate Services Inc and Detona Capital
Law book
Preveceutical brought the action last year with the Supreme Court of British Columbia

PreveCeutical Medical Inc (CSE:PREV) (OTCMKTS:PRVCF), the health sciences firm, revealed it had prevailed so far in part of a previously reported civil claim.

The firm said that it had obtained a default judgement against Essos Corporate Services Inc. (Essos) and Detona Capital Corp. (Detona).

The firm brought the action to the Supreme Court of British Columbia late last year, against a group of defendants, including Essos and Detona, for various things, including fraudulent misrepresentation and breach of contract in connection with services that the defendants failed to provide to PreveCeutical.

READ: PreveCeutical Medical files civil claim against Bridgemark Group

Also, it covered various consulting agreements and subscription agreements entered into between PreveCeutical and certain of the defendants.

Default judgments are ordered when one party has failed to file and serve a response to the claim within the time allowed by the rules.

"The default judgement shows due process and that proceedings are moving forward. We have confidence in the judicial system and thank our shareholders for their continued patience while we see this through," said PreveCeutical's chairman and CEO, Stephen Van Deventer.

The defendants consist of Aly Babu Mawji, Justin Liu, BridgeMark Financial Corp., Rockshore Advisors Ltd. (formerly known as, Cam Paddock Enterprises Inc.), Detona Capital Corp., Escher Invest SA, Essos Corporate Services Inc., Jarman Capital Inc., JCN Capital Corp., Kendl Capital Limited, Lukor Capital, Northwest Marketing and Management Inc., Sway Capital Corp. and Tryton Financial Corp.

Damages and costs to be awarded to Preveceutical and against Essos and Detona are yet to be decided by the court.

The firm also noted it was continuing to pursue its claims against the other defendants.

Preveceutical did not immediately respond to a request for comment.

Essos Corporate Services Inc and Detona Capital Corp could not be reached for comment.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

View full PREV profile View Profile

PreveCeutical Medical Inc Timeline

Related Articles

April 13 2019
The biotechnology company is developing a platform of unique drugs designed to prevent serious gastrointestinal damage and bleeding caused by chronic naproxen use
Social media use
April 19 2019
Social first has allowed sites like UNILAD to amass a huge audience with very little capital injection, but what is social first publishing and how is it changing the nature of content and advertising?
An instrument made by Pressure BioSciences
June 26 2019
The company’s high-pressure technologies can help drug makers produce protein-based therapeutics, a market expected to touch $240 billion by 2023

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use