Key Developments: Bloomberry Resorts Corp (BBRRF.PK)

BBRRF.PK on OTC Markets Group - US Other OTC and Grey Market

24 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Court temporarily halts share sale in Philippines's Bloomberry Resorts Corp - Reuters
Monday, 20 Jan 2014 12:28am EST 

Bloomberry Resorts Corp:A Philippine court temporarily halted the sale of a minority stake worth $165 mln in Bloomberry Resorts Corp by its Las Vegas-based partner, the Manila bourse said on Jan. 20 - Reuters.A Makati City regional trial court issued a 20-day restraining order to Global Gaming Philippines LLC (GGAM), which owns 8.7 pct of Bloomberry.In a filing to the bourse on Jan. 20, Bloomberry said it had to seek a court order preventing the share sale because of ongoing arbitration proceedings with GGAM.The dispute stems from a decision by Bloomberry last year to terminate a management deal with GGAM for its $1.2 bln Solaire casino resort in Manila.GGAM sought arbitration over the issue, and Bloomberry together with two other partners filed a counterclaim.  Full Article

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