Runge Limited Subsidiary Pincock Allen Holt Successfully Defends US Litigation Appeal Leading mining technology services company Runge Limited, has today announced that its wholly owned subsidiary, Pincock Allen Holt (PAH) has successfully defended the appeal lodged by Standard Bank, Plc in the 10th Circuit Court of Appeals in the United States of America. As previously disclosed, PAH was named in a lawsuit brought in the U.S. about four years ago by Standard Bank, Plc. The lawsuit involved a coal mine in southern Indiana upon which PAH had worked in 20052006.
Runge Limited was not named in the suit and was not involved in the underlying work which allegedly gave rise to the suit. On January 28, 2010 the Federal Judge in Colorado presiding over this case granted judgement in favour of PAH and against the Plaintiff, Standard Bank, Plc. The Judge dismissed the civil action against PAH. In February 2010 Standard Bank Plc lodged an appeal against the Federal Judges dismissal of the action before the 10th Circuit Court of Appeals. The Court of Appeal heard oral argument from the parties in November 2010. In a unanimous decision, the Court of Appeal dismissed Standard Banks appeal in its entirety. Runge Limited Managing Director, David Meldrum said, We are very pleased that the dismissal of the action against our subsidiary, Pincock Allen Holt has been upheld in a unanimous decision of the 10th Circuit Court of Appeals.
As indicated in our 2008 Prospectus, we were confident that PAH would succeed in this litigation. The publication of the Court of Appeals Order and Judgement commences a forty five day period during which an application may be lodged with the United States Supreme Court to seek an order that the US Supreme Court agree to hear an appeal on the merits. We have received our counsels advice and based on that advice we believe that there are no valid bases upon which such an application could be pursued For further information please contact Ken Lewis Company Secretary 617 3100 7200 companysecretaryrunge.com.au About Runge Limited Runge was established in 1977 by Dr Ian Runge and listed on the Australian Securities Exchange on 27 May 2008 ( RUL). Runge is a leader in the provision of technology products, consulting services and training courses to the global mining industry, delivering solutions and services across a range of commodities. With expertise across a range of mining disciplines, Runges approach to the business of mining is strongly grounded in economic principles and delivering mine planning solutions that are tightly coupled with technological support and training.
Runge currently operates 20 offices in 12 countries throughout the world. Our team includes Pincock Allen Holt, MinarcoMineConsult, MRM Mining Services Pty Ltd, GeoGAS Pty Ltd and Corelate Capital Pty Ltd..
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Runge Limited - Litigation Update Appeal Dismissed