Feb 25 (Reuters) - NKWE Platinum LTD (NKP) :
- Update on proceedings against international petroleum ltd (NKP)
- Company advised that its solicitors had filed a memorandum of appearance in
the supreme court of Western Australia
- Company has served a defence and counterclaim in these proceedings
- Says counterclaim seeks $10 million (with interest and costs) from ipl
- Nkwe believes it is entitled to restitution from ipl in respect of the funds
paid under the sale agreement
- On 22 January received a writ of summons from ipl seeking $45MLN arising from
alleged breach of the 2009 sale agreement for tubatse project
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