Quartz Assets LLC & Anor v Kestrel Coal Midco Pty Ltd

Charles Graham QC and Oscar Schonfeld (instructed by Slaughter and May) for the Claimants Nigel Tozzi QC and Kate Livesey (instructed by Stewarts Law LLP) for the Defendant Hearing dates: 21 and 22 September 2021 ____________________

i) the Defendant's specific disclosure application dated 4 June 2021 ("the Defendant's Application"); and

ii) The Claimants' application dated 19 July 2021 for additional disclosure ("the Claimants' Application") � comprising an application for expansion of the Disclosure Issues directed at the first Case Management Conference (CMC) (to which the Defendant has consented) and a direction that the Defendant's disclosure should extend to documents held by a third party (which is disputed).

i) Pursuant to the Commitment Letter, the Defendant appointed the Mezzanine Lenders as exclusive providers of mezzanine financing for the purposes of the Acquisition. The Claimants say that the Defendant's appointment of Meritz as mezzanine provider was in breach of those exclusivity obligations as set out in the Commitment Letter;

ii) In the Commitment Letter, the Defendant warranted and represented to the Mezzanine Lenders on a daily basis from 26 March 2018 to 23 July 2018 (inclusive) that it intended to utilise the Mezzanine Facility in connection with the Acquisition. At the very latest, when the Defendant started serious negotiations with Meritz for the provision of mezzanine financing outside of the Commitment Letter and did not inform the Mezzanine Lenders of the same, those warranties and representations became untrue and misleading or false; and