MANAGEMENT

New Hope has $132M reprieve after court case

NEW Hope Coal has escaped a $132 million liability after the Supreme Court of New South Wales found the company did not guarantee the debts of its subsidiaries Northern Energy Corporation and Colton Coal under a Deed of Cross Guarantee Agreement.

New Hope has $132M reprieve after court case

Justice James Stevenson said in his decision that on the proper construction of the deed, New Hope had not guaranteed the obligations of the subsidiaries. "The question of rectification therefore does...

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