Whitehaven Coal (ASX:WHC) has been served with a Statement of Claim commencing representative proceedings against them in the Supreme Court of Queensland.
The proceedings have been started by Nathan Tinkler who claims to be trustee of the Boardwalk Resources Trust and is purportedly brought on behalf of Tinkler and a number of parties who were issued with Milestone Shares in Whitehaven in May 2012.
Tinkler says that he holds certain Milestone Shares, however Whitehaven understands that Boardwalk Resources Investments Pty is the owner of those shares and that Boardwalk is in liquidation.
Tinkler makes various allegations against Whitehaven concerning an alleged breach of contract and misleading or deceptive conduct in connection with the Milestone Shares.
Whitehaven denies in the strongest possible terms any wrongdoing, will vigorously defend the proceedings.
Shares in Whitehaven Coal (ASX:WHC) are trading 0.47 per cent lower at $4.23.