Tony Sage, executive chairman, commented:
"This is the first step on the way to recover the funds due to Cape Lambert shareholders."
Earlier in the week Sage said:
"We have been patient in trying to settle this matter through consultation, however to recover the $US8 million loan plus interest and the outstanding $US2.5 million royalties this action appears to be the only avenue available to us."
The court made orders as follows:
1. Mr Craig Dean (First Defendant), Gerald Metals Limited (Second Defendant) and Mr Frank Timis (Third Defendant) (jointly the Defendants) whether by themselves, and/or through their principals and agents, are restrained from liquidating Timis Mining Corporation (SL) Ltd (Fourth Defendant);
2. Counsel for the Company has served the Defendants with a Writ of Summons against them instituting this action as well as all documents in respect of this matter; and
3. Costs in the cause.