Chancery Keeps Some Counts In Mining Co. Default Scheme
By Jeff Montgomery (February 25, 2020, 4:59 PM EST) -- Delaware's Chancery Court on Monday sent toward trial part of a 15-count suit accusing Skye Mineral Partners LLC's minority unitholders and others of taking over a Skye-owned Utah copper mine subsidiary worth more than $600 million "on the cheap" through an elaborate loan-to-own scheme.
Vice Chancellor Joseph R. Slights III's complex decision fully denied dismissal for a Skye count alleging civil conspiracy by Skye's minority unitholders and those accused of working with them, including Lippo China Resources Ltd., an Indonesia-based multinational conglomerate.
The vice chancellor also declined to dismiss claims by SMP and Skye Minerals Investors LLC and affiliate Clarity Copper...
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