International Coal Hit with $104.1M Verdict in Coal Supply Lawsuit
Posted on Tuesday, May 3rd, 2011 at 4:04 pm
International Coal Group Inc. has been found liable for $104.1 million in a breach of contract lawsuit.
According to court documents, International Coal breached a coal supply contract with Allegheny Energy Supply and Monogahela Power Company when it declared force majeure and temporarily idled a West Virginia mine in the third quarter of 2006. The lawsuit also claimed that Wolf Run, an International Coal subsidiary, continued to breach the contract by failing to ship the volumes of coal referenced in the agreement after the mine idling.
“We are disappointed in the court’s ruling today,” International Coal Senior Vice-President and General Counsel Roger Nicholson said. “[ICG] believe that the court misinterpreted both the factual underpinnings of the case as well as the applicable law. We intend to avail ourselves of post-verdict remedies and to appeal the ruling, if necessary.
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