Mining Co. Sues Financier Over $10M Breach Of Contract

Law360, New York (August 9, 2012, 7:59 PM EDT) -- A Pennsylvania mining equipment manufacturer sued the Consultants Group Commercial Funding Corp. for $10 million in damages in federal court Wednesday, alleging that the lender had negotiated in bad faith when it reneged on earlier commitments in financing a transaction.

The equipment manufacturer, Joy Technologies Inc., contends that the lender went back on earlier agreements in financing a transaction in which Joy sought to sell equipment to White Oak Resources LLC, a mine operator. Joy specifically alleges that Consultants Group acted in bad faith in regard...
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