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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):February 6, 2007
INTERNATIONAL BARRIER TECHNOLOGY INC.
(Exact Name of Registrant as Specified in its Charter)
| | |
British Columbia, Canada | 000-20412 | N/A |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| | |
750 West Pender Street, #604 Vancouver, British Columbia, Canada | | V6C 2T7 |
(Address of principal executive offices) | | (Zip Code) |
Registrant's telephone number, including area code:(604) 689-0188
N/A
(Former Name or Former Address if Changed Since Last Report)
Check the appropriate box below if the Form 8K fining is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17CFR230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]
Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
SEC 873 (5-06)
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Item 7.01 FD Disclosure.
Watkins, MN; Vancouver, BC February 6th, 2007- International Barrier Technology Inc. (the “Company”) (IBTGF: OTCBB; IBH: TSXV) announces that it has received a preliminary liability and damage report from the New Jersey townhouse association in connection with its lawsuit commenced against its contractor, engineering consultant, property manager and the Company (the “ Defendants”). The lawsuit involves alleged water damage in a 1996 roof replacement project that was allegedly caused by claimed Company product failure along with other alleged deficiencies. The Company first reported on the prospect of this litigation in December 2005. The townhouse association claims that as a result of defective product supplied, and negligent work performed by other named Defendants, the association has suffered damages of US$5,506,409.46. Repairs have been limited to 14 of 174 townhouse units, where wat er damage has been noted. The total square footage affected to date has been over an area covering less than 10,000 square feet. The damages claimed include the costs of repairs made subsequent to the initial installation work, attorney and consultant fees, and the estimated anticipated future costs for roof repairs on units which have not previously required roof repairs nor have shown any sign of damage.
The Defendants, through their insurers, are in the process of engaging a qualified expert to consider the report and to prepare a response to refute it. The townhouse association’s request for mediation with the Defendants has been declined by the Defendants at this juncture. The Company carries insurance to protect against such claims and has documented that any damage occurring to date was the result of insufficient ventilation and incorrect installation. The Company anticipates that the claim will have no material financial impact on the Company.
Refer to Exhibit #99.1 for additional information.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
99.1
Press Release, February 6, 2007
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 6, 2007 International Barrier Technologies Inc.
(Registrant)
/s/ Michael Huddy
(Signature)
(Michael Huddy, President/CEO/Director)
