President of Parafin Corporation Initiates Supreme Court Lawsuit to Verify Holdings of ING Bearer Bonds
September 13 2010 - 9:51AM
Marketwired
ParaFin Corporation (PINKSHEETS: PFNO):
The Maturity Date of June 16, 2010 of the ING series FF Bearer
Bonds held by Parafin has passed and efforts to compel ING to
negotiate the redemption of the Series FF 5.5% Bearer Bonds have
been stepped up.
Sidney B. Fowlds, the President of Parafin Corporation, is a
party to and has filed A "Notice of Civil Claim" (the Claim) in the
Supreme Court of British Columbia, Canada, against ING GROEP N.V.
and ING BANK N.V., HSBC BANK CANADA and HSBC SECURITIES (CANADA)
INC. (The DEFENDANTS) as a result of information from the
Defendants that one Series FF ING Bearer Bond delivered to the
Defendants by Fowlds was destroyed on the instructions of ING.
All of the DEFENDANTS named in the "Notice of Civil Claim" above
have now been served. The Claim maintains that the Defendants
including ING;
1. converted the Bond for their own use;
2. participated in a conspiracy to destroy evidence;
3. caused injury to the Plaintiffs by destroying the Bond (evidence);
4. committed a trespass of goods by wrongfully destroying the Bond
(evidence);
5. wrongfully conspired to cause injury to the Plaintiffs by lawful or
unlawful means;
6. conspired and acted by unlawful means directed towards the Plaintiffs in
7. circumstances where... the ING defendants knew that injury to the
Plaintiffs was likely to result;
8. instructed the HSBC Defendants or one of them to destroy the Bond
(evidence), and, the Bond (evidence) was destroyed pursuant to said
instructions from ING.
Disclaimer Certain statements in this news
release may contain forward-looking information within the meaning
of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under
the Securities Exchange Act of 1934, and are subject to the safe
harbor created by those rules. All statements, other than
statements of fact, included in this release, including, without
limitation, statements regarding potential future plans and
objectives of the company, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Technical complications that may arise could
prevent the prompt implementation of any strategically significant
plan(s) outlined above. The company cautions that these forward
looking statements are further qualified by other factors
including, but not limited to those, set forth in the company's
Form 10-KSB filing and other filings with the United States
Securities and Exchange Commission (available at
http://www.sec.gov/). The company undertakes no obligation to
publicly update or revise any statements in this release, whether
as a result of new information, future events or otherwise.
To be included in our company mail list for real-time news and
updates, please e-Mail: ceo@parafincorp.com
Contact: ParaFin Corporation ceo@parafincorp.com
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