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Metyor Settles Dispute
Hamilton, Bermuda: Monday, August 26, 2002 - Metyor, Inc. [BSX: MTYR.BH] advises shareholders the long running dispute between Metyor and Bank of Queensland was settled on last Friday. As part of the settlement, the Bank will pay Metyor $3.5M in full settlement of all claims (inclusive of costs). The claims and counterclaims by all parties have been dismissed by the Supreme Court. The joint venture company at the centre of the dispute has been ordered to be wound up and Mr Peter Geroff and Mr Greg Moloney, partners of Ferrier Hodgson, Chartered Accountants, have been appointed as official liquidators.
