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by Mike Caswell

Samuel Yu, the former president of CDN MSolar Corp., denies claims that he wrongfully took $331,579 of the company's money. He also denies taking an unauthorized $322,061 loan. He asks that a lawsuit the company filed to recover the amounts be dismissed.

The statements from Mr. Yu come in response to a notice of claim that CDN MSolar filed in the Supreme Court of British Columbia on July 4, 2017. The company said that Mr. Yu wrongfully took possession of a $331,579 advance that the company was receiving from a shareholder. He deposited the money in his personal account at HSBC. The company further claimed that Mr. Yu took a loan of $332,061 from the company, without authorization from the board. The suit sought the court-ordered return of both amounts.

For his part, Mr. Yu simply denies that he did anything wrong. In a very brief response filed on July 18, 2017, he says that $331,579 the company seeks never belonged to it in the first place. As he sees things, the company had no entitlement to the money. Mr. Yu further denies that he ever borrowed any money from the company, and in particular the $322,061 the company is seeking.

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