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Posted on 02/07/09

Former Coalcorp executives file suit

TORONTO -- MINING REPORTERA group of former Coalcorp Mining Inc. executives has filed suit against Pala Investments Holdings Ltd., the resource fund masterminded by mysterious Russian billionaire Vladimir Iorich, alleging that Pala illegally gained control of the coal producer and is now driving the miner toward financial ruin so it can buy the rest of the coal producer on the cheap.

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