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Legend International Holdings Chapter 11 Petition Filed

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Legend International Holdings filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, case number 16-11131. The Company, which is involved in mineral exploration and development, is represented by Steven K. Kortanek of Drinker Biddle & Reath.

According to documents filed with the Court, “Legend International Holdings…is the subject of an arbitration award…against Company and in favor of Indian Farmers Fertiliser Cooperative Limited and Kisan International Trading Fze…in the amount of US $12,350,000, and Indian Farmers Fertiliser Cooperative Limited and Kisan International Trading Fze have initiated proceedings in the Supreme Court of Victoria for the winding up in insolvency of the Company, case no. S CI 2016 01290.”

Legend International Holdings’ Chapter 11 petition indicates that its largest unsecured creditor is Indian Farmers Fertiliser Cooperative Limited and Kisan International Trading, which holds a disputed $12.35 million directed settlement per arbitration order claim.

Read more mining bankruptcy news.

The post Legend International Holdings Chapter 11 Petition Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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