Liberty Units Sue VC Firm In Fight For Aluminum Smelter

On Feb 3, 2022

By Christopher Crosby (February 3, 2022, 6:19 PM GMT) — A French company within Sanjeev Gupta’s metal empire has sued an American venture capital fund for control of Europe’s largest aluminum smelting plant, telling a London court that the U.S. fund is unfairly refusing to be repaid some $350 million in loans.

Liberty Industries France Pte. Ltd. and Liberty France Aluminium Holdco Ltd. — part of the Liberty Steel group owned by the metals mogul — sued Lightship Capital II LLC on Oct. 1 in an attempt to force the American firm to return control of the aluminum smelter in the northern French coastal city of Dunkirk.

Lawyers for the companies,…

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