Mining investor Geoff Loudon’s company has been denied a $60 million payday thanks to a split decision in the Supreme Court. The court, in a judgment released on Wednesday, has overturned a Court of Appeal ruling granting L&M Coal Holdings – a company controlled by Loudon, a New Zealand-based geologist – $60m over a coal mining dispute. He is a wealthy mining investor, who has houses in Christchurch and Queenstown. L&M Coal began court action in 2016, with the High Court and the Court of Appeal ruling in its favour. Loudon is a director of the L&M Group, a privately-owned New Zealand company with coal and energy interests.

Source: Stuff July 13, 2021 23:46 UTC