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by Mike Caswell

Former Great Basin Gold Ltd. director Walter Segsworth says that he has nothing relevant to contribute to a fraud lawsuit in Nevada over a massive mine overvaluation. The plaintiff in that case, Credit Suisse SA, is seeking things that include confidential communications he had with Great Basin's lawyer, he says. He also cites procedural problems.

Mr. Segsworth is responding to a petition filed in the Supreme Court of British Columbia on Aug. 25, 2016, by Credit Suisse, a Great Basin lender. Credit Suisse is seeking a court order that would compel Mr. Segsworth to provide a recorded deposition as part of the Nevada lawsuit. In that suit, Credit Suisse claims that it suffered substantial losses when Great Basin's Hollister mine proved to be worth far less than the $236-million it was valued at. (All figures are in U.S. dollars.) Mr. Segsworth is not a defendant in the Nevada lawsuit, but he was party to many decisions surrounding the mine, and would be able to provide information, Credit Suisse said.

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