Kersaf Investments Limited - Announcement
Kersaf Investments Limited
(Reg no 1967/007528/06)
ISIN ZAE000003844
Share Code: KER
Kersaf Investments Limited ("Kersaf") has announced that the Supreme Court of
the State of New York in New York City handed down a decision earlier this week
dismissing in its entirety the action which Sun International Hotels Limited
(now named Kerzner International Limited - KZL) launched against Kersaf and
certain of its subsidiaries out of that Court during October 2001.
The KZL action was based on alleged contractual contraventions and other alleged
wrongful conduct on the part of the Kersaf entities concerned and sought a
substantial damages award.
The Court decided that New York was not the appropriate forum to hear the matter
since, among other things, none of the witnesses are located there. The Court
further noted that the action would be governed by foreign law and considerable
inconvenience would be caused if the Kersaf entities had to litigate the matter
in New York.
Sandton
17 October 2002
Date: 17/10/2002 11:55:51 AM Produced by the JSE SENS Department
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