Whitehaven Coal Ltd. plans to fight a claim brought on by former mining magnate Nathan Tinkler, who alleged a breach of contract by the company over a 2012 deal.
Tinkler, who claims to be trustee of the Boardwalk Resources Trust, filed the claim in the Supreme Court of Queensland in Australia on behalf of himself and a number of parties who received milestone shares in Whitehaven in 2012.
The milestones shares were issued when Whitehaven purchased Aston Resources Ltd. and Boardwalk Resources, both affiliates of Tinkler.
Whitehaven said Dec. 24 that it understands that Boardwalk Resources Investments Pty. Ltd. was the owner of those shares and that it was in liquidation.
"Whitehaven denies in the strongest possible terms any wrongdoing, will vigorously defend the proceedings, and seek to have it dismissed at an early stage," it noted.