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by Mike Caswell

Credit Suisse AG has filed a case in the Supreme Court of British Columbia seeking information from former Great Basin Gold Ltd. director Walter Segsworth over what it sees as a massive mine overvaluation. Credit Suisse claims that it suffered substantial losses when Great Basin's Hollister mine in Nevada proved to be worth far less than the $236-million it was valued at. (All figures are in U.S. dollars.) Mr. Segsworth, as a director, was party to many decisions surrounding the mine, Credit Suisse says.

The allegations are contained in a petition that Credit Suisse filed at the Vancouver courthouse on Aug. 25, 2016. The petition seeks a recorded deposition of Mr. Segsworth in connection with his work on the Hollister mine. The deposition is to be used as part of a fraud lawsuit in Nevada (in which Mr. Segsworth is not a defendant).

PAN AMERICAN SILVER

Walter Segsworth

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