Published on January 18, 2010 at 4:58 AM
Northstar Healthcare Inc. (TSX:NHC) today announced that it has filed for binding arbitration of its subsidiaries' claims against Dr. Donald Kramer and related entities. As previously reported, these claims were made under agreements relating to Northstar's acquisition of its interests in the Palladium Partnership. The filing for arbitration is in compliance with the terms of those agreements, which also state that the arbitration is to be completed within six months of filing.
The filing for arbitration follows extensive discussions with Dr. Kramer, in addition to a formal mediation process. The arbitration will be held before the American Arbitration Association in Texas.
Northstar believes that this process provides greater clarity with respect to the timing and resolution of this matter.
Source:
NORTHSTAR HEALTHCARE INC.
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Tags: Palladium