Cargill Hits Keystone With $26M Contract Suit Over Coal

Law360, Los Angeles (March 18, 2014, 8:26 PM EDT) -- Food and agricultural supplier Cargill Inc. hit Keystone Industries LLC with a breach of contract suit in Florida federal court on Tuesday, saying the company owes Cargill more than $26 million after certain Keystone creditors seized coal purchased by Cargill and defaulted on an agreement.

According to the suit, Keystone breached a 2010 master coal purchase and sale agreement and caused Cargill to exercise its right to terminate the agreement and demand damages for obligations due until the contract’s termination date. However, both Keystone and co-defendant...
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