This case was last updated from PACER on 10/01/2021 at 14:40:31 (UTC).

Sustainable Opportunities Acquisition Corp. v. Ramas Capital Management, LLC et al

Case Summary

On September, 13, 2021, Sustainable Opportunities Acquisition Corporation n/k/a TMC, the Metals Company Inc. (“SOAC” or “Plaintiff”), represented by Sandra C. Goldstein of Kirkland & Ellis LLP (NYC), filed a contract lawsuit against Ramas Energy Opportunities I, L.P., Ramas Energy Opportunities I GP, LLC, and Ramas Capital Management, LLC (collectively, “Defendants”), seeking compensatory damages (plus interest) at an amount to be determined at trial as well as expenses, costs, and attorneys’ fees and other reliefs for alleged breach of contract and tortious interference of the Defendants. This case was filed in U.S. District Court in the Southern District of New York with Judge Gregory H. Woods presiding.

 

This action arises out of Defendants’ alleged breache and tortious interference with irrevocable commitments to deliver a total of $200 million to SOAC pursuant to duly executed Subscription Agreements. Accordingly, SOAC brought this action to obtain specific performance of the obligations under the Subscription Agreement as well as to recover all damages resulting from Defendants’ conduct.

 

In the complaint, the Plaintiff alleged that, “On March 4, 2021, SOAC announced the execution of a Business Combination Agreement by and among SOAC; 1291924 B.C. Unlimited Liability Company, an unlimited liability company existing under the laws of British Columbia, Canada; and DeepGreen Metals Inc., a company existing under the laws of British Columbia, Canada (“DeepGreen”). Pursuant to the Business Combination Agreement, the parties thereto entered into a series of transactions (the “Business Combination”) through which SOAC re-domiciled as a company existing under the laws of British Columbia and acquired all of the outstanding shares of DeepGreen.”

 

The Plaintiff also alleged that, “Ramas Investor entered into the Ramas Subscription Agreement, pursuant to which Ramas Investor agreed to pay $200 million in exchange for shares of SOAC stock at a price of $10.00 per share. Ramas Parent and Ramas Investor GP are also bound to the Subscription Agreement because their principal signed the Subscription Agreement, among other reasons.”

 

Further, the Plaintiff alleged that, “SOAC and Ramas Investor are parties to the Subscription Agreement, a valid, enforceable contractual agreement. Ramas Parent was aware of the existence of the Subscription Agreement. In fact, its Managing Partner and CEO signed the Subscription Agreement. In the event Ramas Parent is not bound to the Subscription Agreement, Ramas Parent intentionally and improperly interfered, without justification, with the Subscription Agreement by causing Ramas Investor not to perform its obligations under the Subscription Agreement.”

 

There are two claims for relief laid down by the Plaintiff. The first claim alleged is for breach of contract against all defendants and the second claim alleged is for tortious interference with a contractual relationship (Ramas Parent).

 

In the prayer for relief, the Plaintiff has requested the Court to pass an order declaring that Defendants are liable for the claims herein; further order Defendants to specifically perform their obligations under the Subscription Agreement, including compensatory damages (plus interest) at an amount to be determined at trial; and award expenses, costs, and attorneys’ fees as well as such other relief as the Court deems just and proper.

 

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Case Details Parties Documents Dockets

 

Case Details

  • Case Number:

    1:21-CV-07642

  • Filing Date:

    09/13/2021

  • Case Status:

    Disposed - Other Disposed

  • Case Type:

    Contract - Debt Collection

Judge Details

Presiding Judge

Gregory H. Woods

 

Party Details

Plaintiff

Sustainable Opportunities Acquisition Corp.

Defendants

Ramas Capital Management, LLC

Ramas Energy Opportunities I, L.P.

Ramas Energy Opportunities I GP, LLC

Attorney/Law Firm Details

Plaintiff Attorney

Sandra C Goldstein

Attorney at Kirkland & Ellis LLP (NYC)

601 Lexington Avenue

New York, NY 10022

 

Court Documents

#13

(#13) NOTICE OF VOLUNTARY DISMISSAL pursuant to Rule 41(a)(1)(A)(i) of the Federal Rules of Civil Procedure, the plaintiff(s) and or their counsel(s), hereby give notice that the above-captioned action is voluntarily dismissed, without prejudice against the defendant(s) Ramas Capital Management, LLC, Ramas Energy Opportunities I GP, LLC, Ramas Energy Opportunities I, L.P.. Document filed by Sustainable Opportunities Acquisition Corp.. Proposed document to be reviewed and processed by Clerk's Office staff (No action required by chambers)...(Goldstein, Sandra) (Entered: 09/20/2021)

#12

(#12) RESPONSE TO ORDER TO SHOW CAUSE re: #11 Order to Show Cause. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/20/2021)

#11

(#11) ORDER TO SHOW CAUSE: Accordingly, plaintiff is hereby ORDERED TO SHOW CAUSE by September 20, 2021 as to why this action should not be dismissed for lack of subject matter jurisdiction. (Signed by Judge Gregory H. Woods on 9/15/2021) (rro) (Entered: 09/15/2021)

#10

(#10) STATEMENT OF RELATEDNESS re: that this action be filed as related to 1:21-cv-07640-GHW. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/14/2021)

#9

(#9) ELECTRONIC SUMMONS ISSUED as to Ramas Energy Opportunities I GP, LLC. (vf) (Entered: 09/14/2021)

#8

(#8) ELECTRONIC SUMMONS ISSUED as to Ramas Energy Opportunities I, L.P. (vf) (Entered: 09/14/2021)

#7

(#7) ELECTRONIC SUMMONS ISSUED as to Ramas Capital Management, LLC. (vf) (Entered: 09/14/2021)

#6

(#6) REQUEST FOR ISSUANCE OF SUMMONS as to Ramas Energy Opportunities I GP, LLC, re: #1 Complaint,. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/13/2021)

#5

(#5) REQUEST FOR ISSUANCE OF SUMMONS as to Ramas Energy Opportunities I, L.P., re: #1 Complaint,. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/13/2021)

#4

(#4) REQUEST FOR ISSUANCE OF SUMMONS as to Ramas Capital Management, LLC, re: #1 Complaint,. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/13/2021)

#3

(#3) RULE 7.1 CORPORATE DISCLOSURE STATEMENT. No Corporate Parent. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/13/2021)

#2

(#2) CIVIL COVER SHEET filed..(Goldstein, Sandra) (Entered: 09/13/2021)

1 #1

Exhibit 1

1 #1

Main Document

3 More Documents Available
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Docket Entries

  • 09/20/2021
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  • Docket(#13) NOTICE OF VOLUNTARY DISMISSAL pursuant to Rule 41(a)(1)(A)(i) of the Federal Rules of Civil Procedure, the plaintiff(s) and or their counsel(s), hereby give notice that the above-captioned action is voluntarily dismissed, without prejudice against the defendant(s) Ramas Capital Management, LLC, Ramas Energy Opportunities I GP, LLC, Ramas Energy Opportunities I, L.P.. Document filed by Sustainable Opportunities Acquisition Corp.. Proposed document to be reviewed and processed by Clerk's Office staff (No action required by chambers)...(Goldstein, Sandra) (Entered: 09/20/2021)

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  • 09/20/2021
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  • Docket(#12) RESPONSE TO ORDER TO SHOW CAUSE re: #11 Order to Show Cause. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/20/2021)

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  • 09/15/2021
  • DocketMagistrate Judge Stewart D. Aaron is so redesignated. (aea) (Entered: 09/15/2021)

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  • 09/15/2021
  • DocketNOTICE OF CASE REASSIGNMENT to Judge Gregory H. Woods. Judge Paul G. Gardephe is no longer assigned to the case. (aea) (Entered: 09/15/2021)

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  • 09/15/2021
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  • Docket(#11) ORDER TO SHOW CAUSE: Accordingly, plaintiff is hereby ORDERED TO SHOW CAUSE by September 20, 2021 as to why this action should not be dismissed for lack of subject matter jurisdiction. (Signed by Judge Gregory H. Woods on 9/15/2021) (rro) (Entered: 09/15/2021)

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  • 09/14/2021
  • DocketCASE REFERRED TO Judge Gregory H. Woods as possibly related to 1:21-cv-7640 (GHW). (gp) (Entered: 09/14/2021)

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  • 09/14/2021
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  • Docket(#10) STATEMENT OF RELATEDNESS re: that this action be filed as related to 1:21-cv-07640-GHW. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/14/2021)

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  • 09/14/2021
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  • Docket(#9) ELECTRONIC SUMMONS ISSUED as to Ramas Energy Opportunities I GP, LLC. (vf) (Entered: 09/14/2021)

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  • 09/14/2021
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  • Docket(#8) ELECTRONIC SUMMONS ISSUED as to Ramas Energy Opportunities I, L.P. (vf) (Entered: 09/14/2021)

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  • 09/14/2021
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  • Docket(#7) ELECTRONIC SUMMONS ISSUED as to Ramas Capital Management, LLC. (vf) (Entered: 09/14/2021)

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  • 09/14/2021
  • DocketCase Designated ECF. (vf) (Entered: 09/14/2021)

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  • 09/14/2021
  • DocketMagistrate Judge James L. Cott is so designated. Pursuant to 28 U.S.C. Section 636(c) and Fed. R. Civ. P. 73(b)(1) parties are notified that they may consent to proceed before a United States Magistrate Judge. Parties who wish to consent may access the necessary form at the following link: #https://nysd.uscourts.gov/sites/default/files/2018-06/AO-3.pdf. (vf) (Entered: 09/14/2021)

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  • 09/14/2021
  • DocketCASE OPENING INITIAL ASSIGNMENT NOTICE: The above-entitled action is assigned to Judge Paul G. Gardephe. Please download and review the Individual Practices of the assigned District Judge, located at #https://nysd.uscourts.gov/judges/district-judges. Attorneys are responsible for providing courtesy copies to judges where their Individual Practices require such. Please download and review the ECF Rules and Instructions, located at #https://nysd.uscourts.gov/rules/ecf-related-instructions..(vf) (Entered: 09/14/2021)

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  • 09/14/2021
  • Docket***NOTICE TO ATTORNEY REGARDING CIVIL. CASE OPENING STATISTICAL ERROR CORRECTION: Notice to attorney Sandra C Goldstein. The following case opening statistical information was erroneously selected/entered: Dollar Demand 200,000,000. The following correction(s) have been made to your case entry: the Dollar Demand has been modified to 9,999,000. (vf) (Entered: 09/14/2021)

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  • 09/13/2021
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  • Docket(#6) REQUEST FOR ISSUANCE OF SUMMONS as to Ramas Energy Opportunities I GP, LLC, re: #1 Complaint,. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/13/2021)

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  • 09/13/2021
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  • Docket(#5) REQUEST FOR ISSUANCE OF SUMMONS as to Ramas Energy Opportunities I, L.P., re: #1 Complaint,. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/13/2021)

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  • 09/13/2021
  • View Court Documents
  • Docket(#4) REQUEST FOR ISSUANCE OF SUMMONS as to Ramas Capital Management, LLC, re: #1 Complaint,. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/13/2021)

    Read MoreRead Less
  • 09/13/2021
  • View Court Documents
  • Docket(#3) RULE 7.1 CORPORATE DISCLOSURE STATEMENT. No Corporate Parent. Document filed by Sustainable Opportunities Acquisition Corp...(Goldstein, Sandra) (Entered: 09/13/2021)

    Read MoreRead Less
  • 09/13/2021
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  • Docket(#2) CIVIL COVER SHEET filed..(Goldstein, Sandra) (Entered: 09/13/2021)

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  • 09/13/2021
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  • Docket(#1) COMPLAINT against Ramas Capital Management, LLC, Ramas Energy Opportunities I GP, LLC, Ramas Energy Opportunities I, L.P.. (Filing Fee $ 402.00, Receipt Number ANYSDC-25054715)Document filed by Sustainable Opportunities Acquisition Corp.. (Attachments: #1 Exhibit 1).(Goldstein, Sandra) (Entered: 09/13/2021)

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