Charter Pacific has ended discussions with the Chris Burke group of companies (Securicom/Microlatch) to bring about an early resolution to the current matters before the Supreme Court of NSW.
Charter Pacific Directors believe further discussions with the Chris Burke group is unlikely to result in a sensible or commercial outcome for the Charter Pacific shareholders.
The matter is scheduled to be heard in the Supreme Court of NSW in the next few weeks and is expected to take three days. The hearing may take additional time as new matters continue to become known to Charter Pacific.
Charter Pacific Directors are confident that the Company will achieve a positive outcome.
On Friday, 9 March 2018 the Supreme Court of NSW issued a consent order that Securicom Pty Ltd, C J Burke Nominees Pty Ltd, Microlatch Limited, Microlatch Pty Ltd and Chris Burke are by this order, restrained from any dealings with the patents as detailed in the court order below.
Also on Friday, 11 May 2018 the Supreme Court of NSW issued a consent order that Securicom Pty Ltd, C J Burke Nominees Pty Ltd, Microlatch Limited, Microlatch Pty Ltd and Chris Burke are by this order, restrained from taking any steps to deal with, in any way whatsoever, or transfer any of the patents or any other business IP , use their best endeavours to preserve and keep current the patents and business IP and provide copies of certain documents as detailed in the court order below.
