Forsys Metal Sued Over Failed Acquisition

Law360, New York (September 4, 2009, 4:38 PM EDT) -- Holding company George Forrest International Afrique SPRL has sued Forsys Metal Corp. in a Canadian court after its planned acquisition of the emerging Namibian uranium producer fell through, seeking CAD$150 million in damages and alleging that Forsys breached an arrangement agreement between the two companies.

In a Sept. 3 statement GFI said the suit, filed in the Ontario Superior Court of Justice, also seeks a declaration that it does not owe Forsys a CAD$20 million reverse break fee, as well as the payment of certain of...
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