Massey Hits JSW Steel With $648M Contract Suit

Law360, New York (September 29, 2010, 2:23 PM EDT) -- Massey Energy Co.’s coal exporting unit has taken JSW Steel Ltd. to court, claiming the Indian steelmaker owes it $648 million for backing out of a contract for several million tons of coal.

The complaint, filed Tuesday in the U.S. District Court for the Eastern District of Virginia, claims that in June 2008 JSW agreed to buy at least 3.6 million metric tons of hard coking coal from A.T. Massey Coal Co. Inc. but never lived up to its side of the bargain.

The contract called...
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