Cartesian Capital files $10 mln suit against IC Potash
U.S. private equity firm Cartesian Capital Group said it filed a complaint against IC Potash Corp (TSX: ICP), a Toronto explorer and developer of potassium fertilizer minerals in New Mexico. The complaint, filed in a New York State court, is for damages of at least US$10 million. Cartesian, which has invested as a minority partner in the company's U.S. potash affiliate, alleges misappropriation of the joint venture's funds. It also said IC Potash refused to fund the capital needs of the joint venture. Resource Capital Funds is among the company's investors.
12 July 2017•2 mins read
