Quintette loses appeal on award

The British Columbia Supreme Court has denied an appeal by Quintette Coal to have portions of the price award issued last month by an arbitration panel set aside. Quintette had appealed the $46 million award to its Japanese customers, saying that the panel had gone beyond its scope in fixing coal prices for each quarter between April 1, 1987 and March 31, 1991. The company noted the court’s decision will not have an effect on reorganization plans and that an appeal of the decision is being contemplated.