Global Alumina Hit With Suit Over Failed $15M Loan Deal

Law360, New York (July 31, 2013, 6:46 PM ET) -- Financing firm Partnership Global Ltd. sued Canada-based Global Alumina Corp. and its executives in New York state court Wednesday, seeking damages from the mining company for allegedly backing out of a $15 million loan deal for an aluminum ore project.

PGL contends Global Alumina nixed the deal for an estimated $3 billion Guinea mining project at the eleventh hour, only to strike a separate $38 million deal in which it sold its interest in the project to an affiliate of the project's other existing stakeholders, Mubadala...
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