3rd Circle Says bankruptcy court can hear Mesabi’s fee fight

By Bill Wichert (August 25, 2022, 7:57 p.m. EDT) — The Third Circuit on Thursday said a Delaware bankruptcy court has jurisdiction to hear a Minnesota mining company’s challenge to charges of more than $16 million. dollars sought by an investment bank for financial advisory services, ruling in a court opinion that the case is a “main proceeding” within the jurisdiction of the court.

A circuit board overturned U.S. Bankruptcy Judge Brendan L. Shannon’s 2019 ruling that he lacked jurisdiction over a conflicting complaint by Mesabi Metallics Co. LLC and its equity sponsor seeking a ruling that the plan Mesabi’s Chapter 11 and confirmation order reimbursed the company’s now known…

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