Replies to post #25573 on Southridge Enterprises Inc (SRGE)

[tob999]

The battle has been lost. BGL have lost Cinco Minas concession to SRGE. BGL's gross negligence towards the local Ejidatarios saw to that! Consequent criminal investigation into 3 BGL Directors for fraud, drug money laundering and fraud does not help BGL's case. Mexican Federal Court has basically told em to get lost! Dyu really think Mexican courts will find anything in favor of the BGL scammers? They want to extradite them and put them in jail!!! lol!

[grego68]

Here's the thing about BGL's "interest"in Cinco Minas. BGL and MSJ entered into a JV together which BGL was to be compensated by getting 60% ownership of MSJ which included Cinco Minas. MSJ claimed default by BGL and terminated the JV. With the JV being terminated, BGL never received the 60% ownership of MSJ nor did it receive Cinco Minas. That's why BGL placed a lien against the titles owned by MSJ but Cinco Minas had already been sold to SRGE so the lien is on the old titles and not the titles owned by SRGE. Therefor, BGL actually has no legal claim to Cinco Minas.

If they actually had a legal claim to Cinco, the MMR could not allow transfer of the titles to SRGE, or if there was an actual legal battle for ownership, they could not transfer title to SRGE either.

The MMR confirms SRGE as having the current titles, therefore BGL can not have any legal claim to Cinco