Tanfield (GB:TAN) has released an update.
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Tanfield Group PLC has updated the market on its 49% investment in Snorkel International Holdings LLC, currently valued at £19.1m, which is subject to ongoing U.S. legal proceedings that may affect this valuation. The company has faced delays in receiving financial accounts from Snorkel and has taken legal actions to enforce its rights, with a court ordering Snorkel to produce the overdue accounts. The anticipated jury trial may be rescheduled due to delays, potentially pushing it back by 3-6 months.
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