Prairie Mining Signs Litigation Funding Deal for AUD18m
Prairie Mining has signed a AUD18m litigation funding agreement with Litigation Capital Management to fund arbitration against the Polish government. Prairie is taking action over the Jan Karski and Debiensko coal mines alleging breaches of obligations under the Australia-Poland Bilateral Investment Treaty and the Energy Charter Treaty.
Prairie Mining Ltd - Poland-focused coal development firm - Inks AUD18 million, or GBP10 million, litigation funding agreement with Litigation Capital Management Ltd in order to pursue international arbitration against Poland in connection with the Jan Karski and Debiensko coal mines. The funding can be drawn immediately and used for tribunal, legal, and external expert costs in Prairie's case, which alleges breaches of obligations under the Australia-Poland Bilateral Investment Treaty and the Energy Charter Treaty. Prairie said it damages claim may include lost profits for both mines and the value of Prairie's expenditure so far in developing Jan Karski and Debiensko.

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By Anna Farley; annafarley@alliancenews.com

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