Partners sued over takeover bid

Thursday, April 29, 1999 | 11:29 a.m.

Three partners in a Las Vegas company developing a device that crushes rock have been sued following a failed takeover bid.

Richard McCloskey Jr. and Thomas Bagnell, members of Rotary Collider Technology LLC, and Ronald Richardson, chief executive officer of Ballerina Mobile Home Country Clubs and Sales Inc., were named in the suit filed in District Court by Coalplex International Inc., manager of Rotary Collider Technology.

Ballerina as well as Ballerina Enterprises, a company it operates, also were named in the suit.

RCT is developing a device called a rotary collider mill, which breaks or crushes objects and is being developed as a tool for mining, mineral development and ore and precious metal processing.

The suit says Richardson, McCloskey and Bagnall attempted to take over the company prior to the ConExpo construction equipment trade show in Las Vegas last month so they could demonstrate the mill. Coalplex alleges in the suit that the defendants attempted to conduct a meeting illegally to change RCT's leadership.

The suit seeks a restraining order and injunctions against the three men and a court order declaring that they can no longer interfere with Coalplex's management of the company. The suit also seeks an order prohibiting the defendants from communicating on behalf of the company and disclosing proprietary information about the mill.

Richardson, McCloskey and Bagnall were unavailable for comment.

archive