Coal Co. Says $470M Claim Against Canada Falls With NAFTA
By Diamond Naga Siu (March 12, 2021, 7:46 PM EST) -- Westmoreland Mining Holdings LLC, which was impacted by Canada's fast-tracked environmental initiatives, argued to the International Centre for Settlement of Investment Disputes that its $470 million compensation claims belong with a North American Free Trade Agreement tribunal, refuting Canada's arguments.
Westmoreland initiated arbitration against Canada after the province of Alberta pushed up its coal phase-out date from 2050 to 2030 and compensated Canadian coal companies for the impact on their businesses but excluded Westmoreland, a U.S.-headquartered mining company with an Alberta location.
The company in its Thursday counter-memorial blasted Canada's argument that, due to a bankruptcy proceeding, it is no longer...
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