Coal Investors Battle Asset Manager's $112M Loan Fight

Law360, London (February 7, 2020, 5:03 PM GMT) -- Investors in an Australian coal mine have hit back at an asset manager’s $112 million lawsuit over their failed financing arrangement, saying they were allowed to run with a better offer from a different lender.

Kestrel Coal Midco filed a defense with the High Court in London on Jan. 30 denying that it owes Quartz Assets LLC damages for arranging as much as $400 million in financing to buy the assets of a major Australian mining company.

Lawyers for Kestrel, a corporate vehicle created by a group of investors to snatch up the assets, told the High Court that it was...

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