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Appeals court affirms New Hope not liable for Northern Energy, Colton Coal debts

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Appeals court affirms New Hope not liable for Northern Energy, Colton Coal debts

The Court of Appeal in New South Wales, Australia, confirmed the declaration of the Supreme Court that New Hope Corp. Ltd. has not guaranteed the debts of Northern Energy Corp. Ltd. and Colton Coal Pty. Ltd. under the deed of cross guarantee, according to a Dec. 20 news release.

In July, it was reported that the Supreme Court ruled out that New Hope did not guarantee the debts of the two companies, as opposed to the claim made by Wiggins Island Coal Export Terminal Pty Ltd.

In February, New Hope approached the Supreme Court of New South Wales to settle the dispute over the Colton coal project in Queensland.