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Solid Energy faces legal stoush

NZ NewswireNZ Newswire 8/05/2016
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An international coal company is taking struggling Solid Energy to court this week, trying to get back the $27 million it says is owed by the state-owned miner.

Cargill International, which has headquarters in Geneva, and Solid Energy will face off in a civil case in the High Court at Auckland on Monday.

The two were part of a joint venture in the West Coast's Spring Creek mine until 2012 when world coal prices crashed.

Solid Energy, weighed down by $320m in debt, is selling itself off to pay its creditors, but Cargill says it will be short-changed in such a deal.

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