North Carolina-based Piedmont Mining (PIED-O) has filed for protection in U.S. Bankruptcy Court so that it might gain a chance of being heard in its action against Amax Gold (AU-N).
In March of this year, an arbitration panel awarded Amax US$1.4 million for environmental costs. Judgment on the award was entered in August. The bankruptcy filing stays enforcement of the judgment.
In 1995, Piedmont filed suit against Amax Gold for arbitration of certain environmental expenses incurred at the Haile gold project in South Carolina.
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