In 2011 PT Bayan were able to get $60 per tonne for their coal. The agreement with White Energy was to supply coal until the end of 2012 at $40 per tonne. Bayan did not want to keep to the lower price and wanted to supply coal at $60 per tonne and wanted White Energy to buy out their 49% interest for $45 million. That's the basics of it.
As we know, Kangaroo Resources are in no way directly affected by all this. It is only the freezing order of Bayan's 56.05% interest in the company and the possibility of a takeover bid that has brought this into the open
Singapore International Commercial Court Suit No 1 of 2015
BCBC Singapore Pte Ltd and anor v PT Bayan Resources TBK and anor [2017] SGHC(I) 06