Magnesium Co. Says CVM Minerals Breached $121M Deal

March 8, 2012 – In The News
Ely Goldin, a partner in the Blue Bell office, recently discussed the breach of contract suit that filed against CVM Minerals Ltd.

According to the complaint filed in New Jersey federal court, CVM, a Malaysian magnesium producer, had promised an equity stake in a new $34-million Malaysian magnesium production facility to get to sign an offtake deal purchase and distribute the magnesium. Over time, the Malaysian company manufactured a series of delays so that never received the stake or much magnesium.

Goldin, who represents, argued that the delays were “a tremendous blow to our reputation in the industry.” He added that the alleged deception was also “financially devastating” to