Savoy Energy Corporation Comments on Lawsuit
March 26 2010 - 1:03PM
Marketwired
It has come to the attention of Savoy Energy Corporation (OTCBB:
SNVP) (the "Company") that a lawsuit has been filed against the
Company by Panos Industries, LLC ("Panos") seeking recovery of
approximately $150,000 which Panos claims was allegedly advanced to
the Company. At this time, the Company has not seen nor has been
served with the lawsuit and is unaware of any specific allegations
contained in it.
Under any circumstances, the Company specifically denies that it
is indebted to Panos and believes that any claims purportedly
asserted in the lawsuit are without merit. The Company further
believes that it has meritorious claims against Panos which arose
in connection with the merger of the Company's predecessor with
Plantation Exploration, Inc. and in connection with the aftermath
of the merger.
The Company intends to vigorously defend any claims asserted by
Panos and to aggressively prosecute its claims against Panos.
Contact: For Savoy Energy Corporation Law Offices of Robert L.
B. Diener (310) 396-1691 Email Contact
Savoy Energy (CE) (USOTC:SNVP)
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