Investment Firm Seeks OK Of $3M Award Against Mining Co.

Law360 (November 7, 2019, 10:04 PM EST) -- An investment banking firm has urged a New York federal court to confirm an arbitral award totaling $2.97 million issued against a Canadian mining company in a dispute over the reimbursement of expenses owed to the firm.

Seaport Global Holdings initiated arbitration at the International Centre for Dispute Resolution seeking reimbursement after Petaquilla Minerals, or PTQ, failed to pay expenses owed under an agreement that saw the firm advise the gold mining company on raising $150 million through a bond offering.  

The agreement contained a clause requiring PTQ to reimburse Seaport for up to $600,000 in legal expenses to Proskauer,...

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