Bre-X Minerals

The Ontario Securities Commission has set aside two months for a hearing into the activities of former Bre-X Minerals Chief Geologist John Bernard Felderhof, who is currently hiding out in the Cayman Islands. Proceedings against Felderhof are due to be held from October 16 to December 22, 2000 at the Provincial Offences Court, Old City Hall, Toronto.

David Walsh, the former head of Bre X Minerals, tried to close a bank account in the Bahamas and take out his entire deposit of $25.3 million two weeks after an audit revealed concluded that the supposedly rich Busang gold

Deloitte & Touche, as trustee of bankrupt Canadian mining firm Bre-X Minerals, has brought a lawsuit in the Cayman Islands against its former chief geologist, John Felderhof; his wife, Ingrid; and a Cayman company they control called Spartacus Corporation.The lawsuit was filed in the Grand Court of the Cayman Islands on December 19 and signals the beginning of what will probably be a long legal battle between Felderhof and those who claim he was largely responsible for the massive Bre-X stock fraud that netted him millions of dollars.

Lawyers acting for John Felderhof, the former chief geologist at Bre-X Minerals who by simple logic is either one of the most incompetent geologists in the history of geology or a crook, caused some amusement this week when they claimed he had passed a lie detector test - held in private at a Cayman hotel without a policeman in sight.