The Supreme Court of Western Australia has dismissed a lawsuit filed by Perdaman Chemicals and Fertilisers Pty Ltd that sought to restrain Lanco Infratech from securitaling Griffin coal assets.
Lanco bought Griffin Coal in a deal valued at up to $850 million last December, joining the bandwagon of Indian firms looking at aquiring coal mine assets in Indonesia, South Africa and Australia.
"Perdaman's application for a freezing order refraining Griffin from entering into a charge or security without notice to Perdaman, in the Supreme Court of Western Australia against Griffin Coal Mining Pty Ltd, a group company of Lanco Infratech Ltd has been dismissed," a Lanco Infratech said in a statement.
Perdaman Chemicals and Fertilisers is an Australian firm.
Hearing of the application took place on 27 July 2011.
"In his order, on 11 August Justice Beech dismissed Perdaman's application in favour of Griffin," it said.