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Replies to post #73180 on Southridge Enterprises Inc (SRGE)
When the September 30, 2010 decision of the 5th Collegiate Court of Jalisco was issued, stating that the State Courts which had decided on the matter had no jurisdiction to do so, and ordering the case to be ruled by a Federal Court, the Company had the choice to accept such decision right away and have the case re--tried in Federal Court, or to try an extraordinary recourse (revision of amparo) before the Supreme Court to have it uphold the State’s court decisions on constitutional grounds. While the extraordinary recourse referred to a matter which constitutional relevance had never been tested at the Supreme Court level, the Company decided to take such route because of the clear grounds of its case and relying on the possibility that the Supreme Court would determine such relevancy, hear the case and rule in the Company’s favor, upholding the results of the two instance trial already won by the Company and saving the time and expense of re--trying the case. However, given the borderline nature (constitutional relevancy) of the matter, the Company is disappointed but not totally surprised by the Supreme Court’s decision.
The Company is disappointed that, after two favorable judicial decisions on its legal action to enforce its ownership rights to the Properties, the jurisdiction of the deciding courts had been brought into question by the judiciary itself and that because of this circumstance the final resolution of its case is being further delayed.
However, the Company is convinced on the strength of its case and that its rights will be upheld also by the Federal Courts. The Company will rapidly engage such courts seeking the quickest decision on the matter.
12/03/12 10:42 AM
AI
