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Centerra sues former director over Kumtor mine expropriation

Centerra sues former director over Kumtor mine expropriation Operations at the Kumtor mine 350 km southeast of the Kyrgyz capital Bishkek. Credit: Centerra Gold. Centerra Gold (TSX: CG) has sued the new external manager of its Kumtor mine, which was seized by Kyrgyzstan last weekend, claiming that he conspired to steal the asset from the company while he was a director. The Toronto-based miner alleges that former board member Tengiz Bolturuk, secretly co-operated with Canadian and U.S. lawyers, as well as with the government of Kyrgyzstan to stage the mine expropriation, it said in a statement. In the suit, filed in the Ontario Superior Court on May 20, Centerra claims that Bolturuk, a dual Canadian and Kyrgyz citizen, breached his duty of loyalty and confidentiality to the company by going behind its back.

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