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Canada Nickel Company Inc V.CNC

Alternate Symbol(s):  CNIKF

Canada Nickel Company Inc. is a Canada-based company, which is engaged in advancing the nickel-sulfide projects to deliver nickel required to feed the electric vehicle and stainless-steel markets. The Company owns flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. The Company also owns 25 additional nickel targets located near the Crawford Project. Its wholly owned NetZero Metals Inc. to develop zero-carbon production of Nickel, Cobalt and Iron and applied for the trademarks NetZero Nickel NetZero Cobalt and NetZero Iron across several jurisdictions.


TSXV:CNC - Post by User

Post by EndZonefor7on Nov 28, 2023 5:43pm
185 Views
Post# 35757384

Ruling due on Wednesday in nickel trades lawsuit against LME

Ruling due on Wednesday in nickel trades lawsuit against LME

LONDON, Nov 28 (Reuters) - London's High Court will rule on Wednesday whether the London Metal Exchange (LME) unlawfully cancelled billions of dollars of nickel trades in March last year, brought by two U.S.-based financial companies, staff at the court said.

Hedge fund Elliott Associates and market maker Jane Street Global Trading are claiming $472 million in compensation for the voided nickel trades on March 8, 2022, after the LME suspended trading for more than a week.

The 146-year-old exchange said it had no choice but to cancel $12 billion of nickel trades when prices of the metal used to make stainless steel lurched higher, doubling in a matter of hours to more than $100,000 per metric ton in chaotic trade.

Lawyers for the two sides presented their arguments during a court hearing over three days in June. An appeal is expected from whichever side loses.


https://finance.yahoo.com/news/ruling-due-wednesday-nickel-trades-133611951.html
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