Liquidators of Balamara Resources receives permission from NSW Supreme Court to enter into a funding agreement with Vulpes Distressed Fund for arbitration claim against Poland

The liquidators of Australian mining company Balamara Resources have received permission from the Supreme Court of New South Wales to enter into a funding agreement with shareholder Vulpes Distressed Fund for an arbitration claim against Poland. The Court found that the funding agreement had been appropriately disclosed in redacted form, that no real conflict arose from Vulpes’ dual role as shareholder and funder, and that no superior funding alternatives existed.

Read the decision here.