CHEC is pleased to announce that the Ontario Superior Court of Justice has rendered a decision on the motion brought by Hy-Drive Technologies Inc., Dynamic Fuel Systems Inc., Greenbriar Holdings Inc. and Global Tech Environmental Products Inc. that sought to stop CHEC from manufacturing and selling its Hydrogen Fuel Injection technology, amongst other things.
As a result of the abandonment of this motion by Hy-Drive Technologies, et al, CHEC can continue with the marketing and sale of its revolutionary emissions reduction and fuel saving technology.
In her decision, The Honourable Madame Justice Mesbur noted that counsel for the plaintiffs for Hy-Drive and Dynamic's, et al, counsel displayed "an egregious lack of professionalism and courtesy that should not be countenanced". Portions of the order originally consented to by CHEC, which provided that CHEC would agree to preserve certain assets, in all respects, and maintain proper accounting of all sales, have been continued.
"The motion by the plaintiffs, representing what we believe is a consortium of virtually all our competitors, was exceedingly oppressive and, we believe, represented an attempt at restraint of trade", said Ira Lyons, President of CHEC. "Faced with certain defeat, the consortium had no option but to abandon their attempt to obtain the injunction. We believe that the formation of this consortium represents an abuse of process. CHEC will continue to vigorously defend its Intellectual Property and continue to operate in the ordinary course of business", Lyons added.
In a separate motion before the Honourable Madam Justice Mesbur, CHEC sought to stay the claims of Hy-Drive and Dynamic in the same action. The Court ordered that the claims, including breach of contract, fraudulent misrepresentation and negligent interference with contractual relations are stayed and therefore can't be pursued. Costs were awarded to CHEC.
In response to the actions taken by the consortium, CHEC has filed a counterclaim seeking $180 Million in damages against Hy-Drive, Dynamic, Greenbriar, Global Tech, Innovative Hydrogen Solutions and certain of their Directors. The counterclaim alleges intentional interference with the contractual relations and economic interests of CHEC, making false and misleading statements designed to discredit the business and products of CHEC, breach of contract, abuse of process and conspiracy, amongst other claims.
About Canadian Hydrogen Energy Company: CHEC manufactures and markets an advanced on-board hydrogen generating product, the CHEC Hydrogen Fuel Injection system. The system offers unparalleled benefits for virtually any internal combustion engine, with increased horsepower, decreased emissions and a guaranteed minimum 10% improvement in fuel economy. HFI is the only emissions reduction technology with ETV certification in Canada and CHEC has the world's largest retail distribution network for any hydrogen product. Further information on the company and its innovative products can be found at www.chechfi.com
For further information: Canadian Hydrogen Energy Company Limited, Ira M. Lyons, President, (800) 550-4066 or (905) 697-7011, ilyons@chechfi.com