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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
Form 6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT
TO
RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES
EXCHANGE ACT OF 1934
For
the month of January 2010
Commission
File Number 0-30314
BONTAN
CORPORATION INC.
(Translation
of registrant’s name into English)
47
Avenue Road, Suite 200, Toronto, Ontario, Canada M5R 2G3
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
Form 20-F
___X___ Form 40-F _______
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ______
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ______
Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
_______ No___X____
If “Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
82-
______________.
On
January 4, 2010, East Mediterranean Exploration Company Limited (East Med) filed
a complaint in the U.S. District Court for the District of Colorado against
International Three Crown Petroleum, Israel Petroleum Company, Ltd., H. Howard
Cooper and Bontan Corporation Inc. (Bontan). East Med seeks
declaratory relief, including a declaration securing its alleged rights in the
Sarah and Mira licenses and the Benjamin permit, as well as unspecified damages
for intentional interference with a contractual relationship. On January 22,
2010, Bontan filed a motion to dismiss the case based on lack of subject matter
jurisdiction, lack of personal jurisdiction over Bontan, improver venue, failure
to state a claim upon which relief can be granted and failure to join a
necessary and indispensable party.
On
January 19, 2010, PetroMed Corporation (PetroMed) filed a complaint in the U.S.
District Court for the Western District of Washington against Bontan, Howard
Cooper and Three Crown Petroleum, LLC. The complaint alleges (i)
violations of Section 10b-5 of the Securities Exchange Act of 1934 (“Exchange
Act”), (ii) a claim for rescission under Section 29(b) of the Exchange Act,
(iii) securities fraud under the Washington Securities Act, (iv) a
state common law claim for rescission, (v) fraud in the inducement, (vi) money
laundering under RCW 9A.83.020 , (vii) breach of contract, (viii) a state
economic duress/business compulsion claim, (ix) unfair or deceptive acts or
practices under the Washington Consumer Protection Act and (x) negligent
misrepresentation. The complaint requests rescission of PetroMed’s
assignment of its 95.5% interest in the Mira and Sarah licenses and Benjamin
permit to Israel Petroleum Company, Limited, money damages of greater than $500
million, a statutory penalty of $25,000 under the Washington Consumer Protection
Act, a declaration that the contracts with the defendants are null and void, an
award of reasonable attorney fees and costs of litigation and a grant of such
other relief as is equitable and just.
Bontan
believes the East Med and PetroMed complaints are without merit and intends to
defend them vigorously.
SIGNATURES
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, thereunto duly
authorized.
Dated: January
[ ], 2010
BONTAN CORPORATION INC.
By: /S/
60;
Kam Shah
Chief
Executive Officer
822473.1