MetalNRG PLC Legal Process Update (5620V)
April 06 2023 - 2:00AM
UK Regulatory
TIDMMNRG
RNS Number : 5620V
MetalNRG PLC
06 April 2023
6 April 2023
MetalNRG plc
Legal Process Update
Another Significant win for the Company
MetalNRG plc ("MetalNRG" or the "Company") announces the outcome
of the appeal brought by Mr Rocco against the Company in
Scotland.
In summary, Mr Rocco advanced claims that he was entitled to be
indemnified by the Company, in full, and on a continuing basis, in
respect of any legal expenses incurred by him in circumstances
where he chose to take legal advice in relation to any actual or
possible legal dispute relating to his employment or directorship
with the Company.
In addition, Mr Rocco sought reimbursement of legal expenses
incurred by him to date, specifically in respect of the High Court
and Employment Tribunal proceedings between, inter alia, himself
and the Company.
Finally, Mr Rocco sought payment of GBP50,000, expressed to be
an "exit" bonus which he claimed was due to him regardless of the
circumstances in which he left the Company.
The Sheriff in Scotland had denied Mr Rocco's application in the
first instance and he subsequently appealed this decision. The
Sheriff Appeal Court has denied the appeal.
Additionally, the Sheriff Appeal Court has ordered further
submissions on costs if an agreed position cannot be reached. The
Company will seek its costs of defending this appeal, as well as
the costs it has already been granted in respect of the first
instance decision.
Mr Rocco now has 14 days to seek leave to appeal to the Inner
House of the Court of Session. In order to be allowed to do so, he
will have to convince the Court that it would raise an important
point of principle or practice, or there is some other compelling
reason for the Court of Session to hear the appeal.
Rolf Gerritsen commented:
"We are delighted with this outcome in Scotland which once again
fully vindicates our approach."
END
Contact details:
MetalNRG plc
Rolf Gerritsen
Christopher Latilla-Campbell +44 (0) 20 7796 9060
Corporate Broker
PETERHOUSE CAPITAL LIMITED
Lucy Williams/Duncan Vasey +44 (0) 20 7469 0930
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Corporate Broker
SI CAPITAL LIMITED
Nick Emerson +44 (0) 1483 413500
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