Altai Resources Inc. has ceased legal representation in a case against the Quebec government for expropriating its oil and gas assets, citing financial burden. Progress has been delayed, with no hearing date set. The company proposed test cases to move proceedings forward efficiently, but the defendants rejected the approach. The company faces a motion for $250,000 in security costs, further straining finances. Despite setbacks, Altai believes seeking justice in Quebec is futile and has abandoned legal representation to avoid financial erosion. The company’s resources include an oil property in Alberta and a Canadian investment portfolio.

Read more at GlobeNewswire: Altai Provides Update on Quebec Litigation