New York Supreme Court Rules in Favor of Trinity White City Ventures (TWCV)

Press Release (ePRNews.com) - NEW YORK - Apr 25, 2017 - New York, NY – The Supreme Court of NY county issued a decision on April 18^th 2017 concluding that the case filed in JTS trading. v. Trinity White City Ventures (“TWCV”), UBS Financial Services, INC (“UBS”), and Aamby Valley (“Aamby Mauritius”), (Case Index No. 651936/2015), the Supreme Court affirmed the dismissal of the plaintiffs’ claims finding that the “MoU” signed between JTS and TWCV did not provide grounds for thier claim.

The court stated that the MoU was an “agreement to agree” and JTS cannot provide facts sufficient enough to establish that TWCV breached any fiduciary duties to JTS, second the elements of a tortious interference claim against UBS are also dismissed and third against Aamby Valley Mauritius for attachment of the properties.

“This is a significant victory for TWCV, we had in good faith executed this agreement, now we hope to move forward to with  our original intention to close a transaction of these properties” was stated by Shahal Khan, Chairman of TWCV. TWCV is now speaking with its legal and financial advisors to assess the correct process for this transaction and it is optimistic it can resubmit an offer to the Sahara Group in a short period of time since it is no longer in dispute.

www.whitecityventures.com