The company claims that, on 4 November 2016, the Court of Appeal of Yukon allowed the appeal lodged by Phil Mulacek and overturned the Supreme Court of Yukon’s approval of the pending transaction with ExxonMobil Corp. on 7 October 2016.
The Chairman of InterOil, Chris Finlayson, said: “Despite this disappointing ruling, we’re pleased that ExxonMobil has advised that they remain fully supportive of the transaction as InterOil works through the issues raised by the Court.”
The company is currently in talks with ExxonMobil with regards to extending the outside date. It is also taking under consideration options to file for leave to appeal to the Supreme Court of Canada.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/07112016/interoil-provides-update-on-exxonmobil-transaction/