Kyanite Seeks Stay On Sale Of Assets

Published 4:40 pm Thursday, May 9, 2013

BUCKINGHAM – Following the news that the Virginia Supreme Court agreed to hear its appeal, The Disthene Group, Incorporated, which includes Kyanite Mining, Blue Rock Resources LLC, and the Cavalier Hotel, is asking Fairfax County Circuit Court Judge Jane Marum Roush to stay her ruling that calls for the sale of its assets.

Roush, judge designate for Colgate, et al. v. The Disthene Group, Incorporated, ordered the dissolution of The Disthene Group, Incorporated, in September following the civil case, which was heard in the Circuit Court of Buckingham County in late spring 2012.

During the initial trial, Curtis Dixon, Sharon Marie Newcomb, and Marion J. Colgate, Sr. sought the dissolution of Disthene and the distribution of its assets on a pro-rata basis to all the shareholders.

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Commenting on behalf of Disthene, Guy Dixon, President of Kyanite Mining, explained, “The current motion to stay the sale of the business' assets simply asks the trial court not to sell any of the company's operating subsidiaries during the appeal process.”

He continued, “The granting of our motion will ensure that if the Supreme Court reverses the trial court's initial ruling, the company is still in existence and we still have a business to run after it is all over.”

Dixon added, “Selling everything off before the appeal process has run its course will irreparably harm the company, its shareholders, its employees and the community as a whole.” He concluded, “We simply want to avoid that result.”