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Natural Resource Partners seek $4.7M in alleged missing payments from Foresight

NaturalResource Partners LP is suing Foresight Energy LP, alleging it incorrectly recoupedpreviously paid minimum royalties.

According to a Form 10-Q filed May 6 by NRP, Foresight'sfailure to properly calculate recoupable balance and failure to make paymentsbased on lease agreements costthe partnership $4.7 million. NRP said it recorded a valuation allowance forthe amount though it plans to pursue the litigation it started April 1.

The alleged failures on Foresight's part were reportedly forthe third and fourth quarters of 2015 and the first quarter of 2016.

A representative of Foresight declined to comment on thematter.