HT to Global Arbitration Review (subscription required) for bringing to light the case of the day, Altain Khuder LLC v. IMC Mining, Inc. (Victoria Supreme Court 2011). IMC Mining had a contract with Altain Khuder to provide plans for an iron ore mine in Mongolia and then to operate the mine. Altain Khuder was required, under the contract, to advance $6 million in order to allow IMC Mining to do its work under the agreement, and the claim was that IMC Mining was paid the money but failed to perform its work. The tribunal, which had its seat in Mongolia, gave an award of damages against IMC Mining and IMC Solutions, a related firm, but one that was not named in the underlying contract.…

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