Ashurst, Investor Fight Off Bank's Suit Over Coal Mining Co.

Law360, London (October 2, 2020, 8:31 PM BST) -- A London judge dismissed on Friday Raiffeisen Bank's suit against Ashurst LLP and an investment company over a soured $120 million sale of shares in an international coal mining group and a disputed escrow agreement.

Judge Clare Moulder found that Ashurst had not breached any warranty by transferring tens of millions of dollars out of a client account, dismissing Raiffeisen Bank International AG's "loss of chance" claim against the law firm.

Judge Moulder also ruled against the Austrian bank on its claims against Asia Coal Energy Ventures Ltd., saying in a 74-page judgment that the special purpose vehicle was entitled to...

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