China Minmetals Won't Pay $9M For Contract Help, Suit Says

Law360, New York (August 13, 2013, 6:23 PM EDT) -- State-owned Chinese mining company China Minmetals Corp. has allegedly refused to pay a U.S.-based metal trading company $9 million for helping Minmetals land a $298 million Russian construction contract, according to a lawsuit filed Monday in New Jersey federal court.

When SKAB International Corp. Inc. helped Minmetals land the contract, it assumed it would be paid based on the companies' prior business dealings with each other — but after Minmetals received the contract, it allegedly stopped communicating with SKAB and hasn't made any payments despite SKAB's...
To view the full article, register now.