Loading ...Two units of Canada’s Centerra Gold (TSX: CG) have filed a motion in a US Bankruptcy Court seeking penalties of $1 million a day against the Kyrgyzstan government, related to the May seizure of the Canadian company’s Kumtor gold mine.
The company’s Kumtor Gold Company (KGC) and Kumtor Operating Company CJSC (KOC) lodged the motion in the US Bankruptcy Court for the Southern District of New York.
The motion alleges the Kyrgyz government “blatantly and continuously” violates the court’s orders and has “continued and intensified” its efforts to deprive KGC and KOC of the protections afforded to them under Chapter 11 of the US Bankruptcy Code, much in the same way that it took over the mine.
Centerra units file motion seeking $1m a day in penalties against Kyrgyzstan govt