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Scully Royalty sues former CEO Samuel Morrow to recover CDN $2.1 million in misappropriated funds
SRLScully Royalty Ltd.
Scully Royalty Ltd. announced it is commencing legal action against former CEO Samuel Morrow, his holding company Boardwalk Ltd., and Victoria Morrow to recover approximately CDN $2.1 million in wrongfully misappropriated funds. The filing identifies the key individuals involved and the specific monetary amount sought in the litigation. Scully Royalty Ltd. operates in the resource royalty sector, holding a net revenues royalty interest on the Scully Iron Ore Mine in Newfoundland and Labrador, Canada, while also maintaining various merchant banking and industrial interests globally.