Churchill Mining loses director amid continuing legal battle

Coal mining firm Churchill Mining on Friday confirmed that Gregory Radke, a key legal mind on the board, has stepped down from his position as a non-executive director.

Radke, who has been a director of the NEX-traded company since 2011, recently accepted a new executive opportunity with an international group which would interfere with his role at Churchill Mining.

Harvard University alumnus Radke has previously served as executive vice president and general counsel at IntegraMed Fertility, general counsel at Pala Investments and chair of the board at mining and metals firm Dumas Contracting.

The company said Radke has “played a key role” in the company’s International Centre for Settlement of investment Disputes (ICSID) claim against the Republic of Indonesia.

The firm has been embroiled in the legal battle since 2012, seeking over $1bn in compensation after the expropriation of the firm's rights over the Indonesian East Kutai coal mine which has a pre-tax net asset value of $1.8bn.

Chairman David Quinlivan said: "Greg has been a long-term board member and support to our claim for damages at ICSID. I would like to thank him for his considerable contribution and wish him all the very best for his new role."

Churchill’s shares were cancelled on AIM from 7 June last year as the court proceedings relating to the firm’s East Kutai licenses were set to take longer than the six months allowed under AIM rules.

Now listed on the NEX, as of 1201 BST, Churchill Mining's shares were unchanged at 3.00p.