On November 26, 2018, Altius announced by press release the filing of a Statement of Claim against the governments of Alberta and Canada. The claim seeks $190 million in damages suffered by the Genesee Coal Limited Partnership (Altius is General Partner) from actions that Altius believes were tantamount to expropriation. The full documentation related to this lawsuit will be posted to the website when received.
In January, 2021, a decision by a Master's of the Court was announced which granted the petition of the governments of Alberta and Canada to dismiss the case before allowing it to go to court for a full hearing. Altius appealed that decision, and the Alberta and Canadian governments then filed their responses to the appeal and added their own cross-appeal. A hearing was held Nov 30 - Dec 1 2021. In April 2022, a decision was announced which upheld the decision of the Master for summary dismissal. Altius has provided disclosure in its Q1 2022 MD&A of its intent to appeal.
