Agoracom

Pala and Coalcorp don't seem to see eye to eye and arguments are flying back and forth, this is the lates:

Pala's Proposal to Improve Corporate Governance

Pala has, since December 2007, repeatedly suggested the addition of
qualified and independent directors to improve corporate governance at
Coalcorp. At a recent meeting between Pala representatives and Coalcorp, Pala
suggested the nomination of new independent directors to bring increased
oversight, independence and experience to the Board. No Pala representatives
were proposed. Coalcorp immediately rejected any suggestions to increase the
independence of the Board. It is worth noting that seven of the nine members
of the Coalcorp Board have direct or indirect associations with Serafino
Iacono. These associations, taken together, create a web of inherent conflicts
and a poor corporate governance model (see Attachment - Director
Associations).
"Coalcorp's Board continues to exhibit behaviour that can only be seen as
self-serving, preferential to Serafino Iacono, and contrary to the best
interests of the company and its shareholders," Mr. Belan said.