HOUSTON, TEXAS – Monday, November 7, 2016 – The founder and former chairman and chief executive of InterOil Corporation (“InterOil”), Phil Mulacek, said today that a three judge panel of the Court of Appeal for Yukon, Canada, has unanimously determined not to approve the proposed plan of arrangement by Exxon Mobil Corporation (“ExxonMobil”) to acquire all of the shares of InterOil (the “Exxon Proposal”). In its decision handed down on Friday, November 4, 2016, the appeal Court overturned a ruling by the Yukon Supreme Court last month that had approved the Exxon Proposal. Unless the Supreme Court of Canada agrees to hear any appeal, the Exxon Proposal cannot be completed in its current form.
Read more
Opinion of the Yukon Court of Appeal, Frankel, J., in InterOil Corporation v. Mulacek, 2016 YKCA 13 (stay of Yukon Supreme Court ruling pending appeal). 19 October, 2016
http://www.concernedinteroilshareholders.com/uploads/2016-YKCA-13-InterOil-Corporation-v-Mulacek.pdf
- 1
- 2