GoldSpring Overbilling

Gold Hill, NV: (Dec-10-07) N.A. Degerstrom brought a lawsuit against GoldSpring, Inc., alleging that the company owed it, money for services provided. The lawsuit is said to have stemmed from a dispute as to how much GoldSpring owed Degerstrom for services provided. Sources stated that as per a December 27, 2005 agreement, the parties agreed that the amount to be paid to Degerstrom would be subject to volume reconciliation by aerial survey. Following the survey, GoldSpring stated that it had been over-billed for amounts of ore and waste, which had been hauled by Degerstrom. Degerstrom, according to the original lawsuit, claimed in excess of $806,000 plus interest for services provided, totaling approximately $1,000,000. In a settlement reached between the two parties, GoldSpring agreed to pay Degerstrom $250,000 to resolve allegations. Under the agreement, both parties agreed to dismiss claims against each other. [CNN: GOLDSPRING OVERBILLING]

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Published on Dec-12-07