Russell Godwin is an outstanding (and fairly dormant) legal matter with Medinah. Here is the description from the filings:
Jenson - Medinah Footnotes 28feb12
MEDINAH MINERALS, INC. NOTES TO UNAUDITED FINANCIAL STATEMENTS (PAGE 2)
DECEMBER 31, 2011 AND 2010
NOTE 5—COMMITMENTS AND CONTINGENCIES
The Company is involved as a co-defendant, along with Juan Jose Quijano and Les Price, in a Supreme Court of British Columbia suit (Vancouver Supreme Court No. s081066) which was commenced February 22, 2008 by Russell K Godwin and RGM Communications.
The plaintiffs’ claim against Medinah and the other defendants is that damages and monies are owing on the basis of alleged contracts between an individual named Gordon David House, deceased, and Medinah. Mr. Godwin, who is also an executor of Mr. House’s estate, purchased the right to sue on these contracts from the estate for the sum of one dollar. The defendants are
countersuing Mr. Godwin and the other executors (being Ben Ainsworth and Helga Hansen) for improperly selling these contracts to their co-executor.
Mr. Godwin subsequently bundled the House contracts with his own
contracts with Medinah and incorporated all of them in the lawsuit as well. With respect to what these contracts precisely were, the defendant takes the position that they are all unauthorized, non-binding and unratified debts that Godwin and House attempted to saddle Medinah with just prior to their being relieved of their directorships of Medinah in 2004, and have no merit.
The amounts involved in the Claim, Counterclaim and third Party Claim exceed three million dollars. There is also the question of the repayment by Godwin and the estate of the value of those Medinah shares which Godwin and House apparently allotted to each other and sold without advising Medinah of the same.
The plaintiffs have not taken any subsequent steps in this litigation , and while it remains a possible liability to Medinah, the Company has not booked any loss there might eventually be in this matter since it seems more likely than not that any settlement, adjudication or other conclusion will not result in a loss.
Medinah, et. al. is now proceeding against the plaintiffs with
Examinations of Discovery slated to begin March 27, 2012, with a view to an early trial date.
