Legalist funds claim against Port of Lake Charles
Legalist has invested an undisclosed sum into a claim by IFG Port Holdings against the Port of Lake Charles.
IFG initially sued the Port in 2016 for allegedly breaching the terms of a lease by failing to secure permits to allow IFG to dredge to the depth specified in the lease.
IFG secured a $124.5 million judgment against the Port, but an appeals court vacated the order on the basis that the magistrate judge who ruled on the matter had a long-standing friendship with IFG’s lawyer. The appeals court has also directed the district court to conduct an evidentiary inquiry.
Further information can be found here.