Reuters logo
BRIEF-Diversified Royalty Corp. announces final resolution of John Bennett indemnity litigation
December 8, 2016 / 4:40 PM / 10 months ago

BRIEF-Diversified Royalty Corp. announces final resolution of John Bennett indemnity litigation

Dec 8 (Reuters) - Diversified Royalty Corp

* Diversified Royalty Corp. announces final resolution of John Bennett indemnity litigation

* Says co has agreed to make payment of $1.1 million in full satisfaction of all remaining and potential liabilities

* All of proceedings currently existing between parties will be dismissed on consent without costs

* Bennett has signed a full and final release of all past, present and future claims against corporation

* As part of settlement, dividend’s payments of $7.5 million versus $8.6 million accrued on dividend’s balance sheet to result in $1.1 million accounting gain Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below