US Asset Manager Seeks $112M Over Mining Co. Loan Deal

Law360, London (November 25, 2019, 5:27 PM GMT) -- A U.S. asset manager has sued an Australian investment vehicle in England, claiming it is owed up to $112.2 million over money that would have been due under a loan deal used to pay for assets including a coal mine in Australia.

Quartz Assets LLC has alleged in documents filed at the High Court in London that Kestrel Coal Midco negotiated the finance deal in bad faith by courting other lenders while it was in discussion with the asset manager and its Singapore-based affiliate.

The Delaware-based company claimed in its Nov. 5 suit that it was part of a group of lenders...

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