Kentucky plans to fight judge's order to release records on Braidy industries investors
A court order issued this week instructs Gov. Matt Bevin’s administration to publicly release documents that show the names of investors in Braidy Industries, but the legal battle isn't over.
Franklin Circuit Judge Phillip Shepherd issued a decision Tuesday ordering the Kentucky Cabinet for Economic Development to release to The Courier Journal four documents that name certain investors in Braidy, including a stock purchase agreement and investor's rights agreement.
“In light of recent developments in which Braidy has been reported to have negotiated additional capital investments from Russian investors, the taxpayers of Kentucky have a heightened interest in public disclosure, and a legitimate need to confirm the expectation that the rights of the public have been adequately protected by the Cabinet,” Shepherd said in the order.
This is an apparent reference to the announcement earlier this year that United Co. Rusal, a Russian aluminum company, had decided to invest $200 million in return for a 40% stake in the roughly $1.7 billion aluminum rolling mill Braidy is working to build in Eastern Kentucky.
Read more: https://www.courier-journal.com/story/news/2019/11/13/kentucky-plans-fight-releasing-records-braidy-industries/2583585001/