The Sheridan Group company Dalhousie Oil (CDN) has begun legal proceedings against North American Palladium (TSE), its wholly owned subsidiary Lac des Iles Mines, Kaiser-Francis Oil and others.
According to North American Palladium, the claim arises from “a series of transactions which occurred during the time the Sheridan Group of Companies controlled North American Palladium.” North American said it plans a counter-suit.
The Dalhousie president is J.P. Sheridan, whose companies first began developing the Lac des Iles mine, a platinum-group-gold-copper-nickel mine 50 miles north of Thunder Bay, Ont.
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